Air Canada (TSE:AC) Given New C$32.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus lowered Air Canada’s price target from C$38.00 to C$32.00 while maintaining a “buy” rating, implying approximately 47% upside from the prior close.
• Analyst sentiment remains positive overall: eight analysts rate the stock a Buy, two rate it Hold and one rates it Sell, resulting in a consensus “Moderate Buy” rating and an average target of C$32.12.
• Air Canada shares fell 0.4% to C$21.74, while the company reported C$0.40 quarterly EPS on C$6.27 billion in revenue; analysts expect full-year EPS of C$2.58.

Air Canada (TSE:AC - Get Free Report) had its price objective dropped by stock analysts at Stifel Nicolaus from C$38.00 to C$32.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus's price target points to a potential upside of 47.19% from the company's previous close.

Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group raised Air Canada from a "hold" rating to a "buy" rating and reduced their price target for the stock from C$29.00 to C$25.00 in a research note on Thursday, October 22nd. BMO Capital Markets boosted their target price on shares of Air Canada from C$30.00 to C$37.00 and gave the company an "outperform" rating in a report on Wednesday, August 12th. UBS Group upped their target price on shares of Air Canada from C$24.00 to C$33.00 in a research report on Thursday, August 13th. Scotia increased their price target on shares of Air Canada from C$33.50 to C$37.50 and gave the stock a "sector outperform" rating in a research note on Wednesday, August 19th. Finally, ATB Cormark Capital Markets lowered their price target on shares of Air Canada from C$45.00 to C$43.00 and set an "outperform" rating for the company in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$32.12.

Air Canada Stock Down 0.4%

AC traded down C$0.08 on Thursday, hitting C$21.74. The company had a trading volume of 1,436,915 shares, compared to its average volume of 2,907,143. The company has a debt-to-equity ratio of 478.10, a current ratio of 0.60 and a quick ratio of 1.05. Air Canada has a 52-week low of C$16.45 and a 52-week high of C$31.45. The stock has a fifty day simple moving average of C$26.02 and a 200-day simple moving average of C$22.33. The firm has a market capitalization of C$5.49 billion, a P/E ratio of 16.60, a P/E/G ratio of 0.02 and a beta of 1.86.

Air Canada (TSE:AC - Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported C$0.40 earnings per share for the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%. The firm had revenue of C$6.27 billion for the quarter. As a group, equities analysts expect that Air Canada will post 2.58 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.

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