Air Canada (TSE:AC) Given New C$43.00 Price Target at ATB Cormark Capital Markets

Key Points

• ATB Cormark Capital Markets lowered Air Canada’s price target to C$43.00 from C$45.00 while maintaining an “outperform” rating, implying approximately 96% upside from the reported C$21.89 share price.
• Analyst sentiment remains mixed but leans positive: eight analysts rate the stock Buy, two Hold, and one Sell, producing a consensus “Moderate Buy” rating and an average target of C$32.58.
• Air Canada shares rose 1.6% to C$21.89 during Tuesday trading. The company reported C$0.40 quarterly EPS and C$6.27 billion in revenue, while analysts forecast C$2.58 EPS for the current fiscal year.

Air Canada (TSE:AC - Get Free Report) had its target price lowered by analysts at ATB Cormark Capital Markets from C$45.00 to C$43.00 in a note issued to investors on Tuesday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets's price target would suggest a potential upside of 96.44% from the company's current price.

A number of other equities research analysts also recently issued reports on the company. Jefferies Financial Group downgraded Air Canada from a "hold" rating to a "moderate sell" rating and lowered their price objective for the stock from C$26.00 to C$19.00 in a research report on Monday, October 19th. Canadian Imperial Bank of Commerce boosted their target price on Air Canada from C$26.00 to C$40.00 in a research note on Friday, August 14th. Canaccord Genuity Group upgraded shares of Air Canada from a "hold" rating to a "buy" rating and decreased their price objective for the company from C$29.00 to C$25.00 in a research report on Thursday, October 22nd. National Bank Financial dropped their price target on Air Canada from C$40.00 to C$37.00 and set an "outperform" rating for the company in a research note on Thursday, October 15th. Finally, BMO Capital Markets upped their target price on Air Canada from C$30.00 to C$37.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Air Canada presently has a consensus rating of "Moderate Buy" and a consensus price target of C$32.58.

Air Canada Stock Up 1.6%

AC stock traded up C$0.34 during mid-day trading on Tuesday, reaching C$21.89. 1,018,806 shares of the company traded hands, compared to its average volume of 2,913,459. The stock has a market cap of C$5.53 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 0.02 and a beta of 1.86. Air Canada has a fifty-two week low of C$16.45 and a fifty-two week high of C$31.45. The firm's 50 day moving average price is C$26.50 and its 200 day moving average price is C$22.30. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 478.10.

Air Canada (TSE:AC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported C$0.40 EPS for the quarter. Air Canada had a return on equity of 16.92% and a net margin of 1.82%. The business had revenue of C$6.27 billion for the quarter. As a group, equities research analysts predict 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.

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.