Air Canada (TSE:AC) Stock Price Expected to Rise, Scotia Analyst Says

Key Points

• Scotia raised Air Canada’s price target to C$37.50 from C$33.50 and maintained a “sector outperform” rating, implying 27.42% upside from the previous close.
• Analyst sentiment is broadly positive: eight analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average target of C$32.29.
• Air Canada shares traded at C$29.43, while the company recently reported C$0.40 in quarterly EPS and C$6.27 billion in revenue.

Air Canada (TSE:AC - Get Free Report) had its price target lifted by stock analysts at Scotia from C$33.50 to C$37.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "sector outperform" rating on the stock. Scotia's target price suggests a potential upside of 27.42% from the stock's previous close.

AC has been the subject of several other reports. Canadian Imperial Bank of Commerce raised their price objective on Air Canada from C$26.00 to C$40.00 in a research note on Friday, August 14th. Canaccord Genuity Group upped their target price on Air Canada from C$20.00 to C$26.00 and gave the company a "hold" rating in a research report on Monday, July 6th. Scotiabank upgraded shares of Air Canada from a "hold" rating to a "sector outperform" rating and increased their price target for the stock from C$26.00 to C$33.50 in a report on Tuesday, August 11th. National Bank Financial raised their price target on shares of Air Canada from C$29.00 to C$40.00 and gave the stock an "outperform" rating in a research report on Thursday, August 13th. Finally, ATB Cormark Capital Markets lifted their price objective on shares of Air Canada from C$32.00 to C$45.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Air Canada presently has an average rating of "Moderate Buy" and a consensus price target of C$32.29.

Air Canada Stock Performance

Shares of AC traded down C$0.47 during trading hours on Wednesday, reaching C$29.43. 998,427 shares of the company traded hands, compared to its average volume of 2,948,172. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 478.10. The business has a fifty day moving average price of C$24.81 and a 200-day moving average price of C$21.27. Air Canada has a 12-month low of C$16.45 and a 12-month high of C$31.45. The stock has a market capitalization of C$8.24 billion, a P/E ratio of 22.47, a P/E/G ratio of 0.02 and a beta of 2.02.

Air Canada (TSE:AC - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share (EPS) for the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%.The company had revenue of C$6.27 billion during the quarter. Equities analysts anticipate that Air Canada will post 2.5789474 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source