Air Canada (TSE:AC) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Key Points

• BMO Capital Markets raised Air Canada’s price target to C$37 from C$30 and maintained an “outperform” rating, implying 23.09% upside from the reported price.
• Analyst sentiment is broadly positive: seven analysts rate the stock a Buy and three rate it Hold, producing a consensus “Moderate Buy” rating and an average target of C$26.88.
• Air Canada shares rose 10.2% to C$30.06 during Wednesday trading. The company recently reported C$0.40 in quarterly EPS on C$6.27 billion in revenue.

Air Canada (TSE:AC - Get Free Report) had its price target boosted by stock analysts at BMO Capital Markets from C$30.00 to C$37.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. BMO Capital Markets' price target points to a potential upside of 23.09% from the company's current price.

Other analysts also recently issued reports about the company. Scotiabank upgraded Air Canada from a "hold" rating to a "sector outperform" rating and upped their price objective for the stock from C$26.00 to C$33.50 in a report on Tuesday. National Bank Financial upgraded Air Canada from a "hold" rating to an "outperform" rating and lifted their target price for the company from C$22.00 to C$29.00 in a report on Tuesday, July 7th. Stifel Nicolaus boosted their price target on Air Canada from C$25.50 to C$30.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their price target on Air Canada from C$27.00 to C$23.00 in a research note on Monday, May 4th. Finally, TD cut their price objective on Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$26.88.

Air Canada Trading Up 10.2%

Air Canada stock traded up C$2.79 during trading on Wednesday, reaching C$30.06. The company had a trading volume of 7,407,891 shares, compared to its average volume of 2,952,882. Air Canada has a 12-month low of C$16.45 and a 12-month high of C$31.45. The stock's 50 day moving average price is C$23.93 and its two-hundred day moving average price is C$20.89. The firm has a market capitalization of C$8.63 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 0.02 and a beta of 2.02. The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60.

Air Canada (TSE:AC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share for the quarter. The company had revenue of C$6.27 billion for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. As a group, equities analysts expect that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

About Air Canada

Air Canada is Canada's largest airline, the country's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada's Aeroplan program is Canada's premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world's largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.

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