Air Canada (TSE:AC) Price Target Cut to C$33.00 by Analysts at National Bank Financial

Key Points

• National Bank Financial cut Air Canada’s price target from C$37 to C$33 while maintaining an “outperform” rating, implying approximately 64% upside from the reported C$20.10 share price.
• Analyst sentiment remains broadly positive: eight analysts rate the stock Buy, two Hold and one Sell, resulting in a consensus “Moderate Buy” rating and an average target of C$31.
• Air Canada shares fell C$1.77 to C$20.10 in Friday trading. The company recently reported quarterly revenue of C$6.98 billion and EPS of C$0.75.

Air Canada (TSE:AC - Get Free Report) had its target price lowered by investment analysts at National Bank Financial from C$37.00 to C$33.00 in a report released on Friday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price target indicates a potential upside of 64.18% from the stock's current price.

AC has been the subject of several other research reports. Canadian Imperial Bank of Commerce boosted their price target on shares of Air Canada from C$26.00 to C$40.00 in a report on Friday, August 14th. UBS Group raised their price target on Air Canada from C$24.00 to C$33.00 in a research note on Thursday, August 13th. Stifel Nicolaus lowered their price target on Air Canada from C$38.00 to C$32.00 and set a "buy" rating on the stock in a research report on Thursday. Scotiabank reduced their target price on shares of Air Canada from C$37.50 to C$33.00 and set a "sector outperform" rating for the company in a report on Thursday, October 15th. Finally, ATB Cormark Capital Markets dropped their price objective on shares of Air Canada from C$45.00 to C$43.00 and set an "outperform" rating for the company in a research note on Tuesday. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of C$31.00.

Air Canada Price Performance

Shares of AC stock traded down C$1.77 during mid-day trading on Friday, reaching C$20.10. The company's stock had a trading volume of 4,124,617 shares, compared to its average volume of 2,919,360. The company has a market cap of C$5.08 billion, a P/E ratio of 15.34, a PEG ratio of 0.02 and a beta of 1.86. The company has a debt-to-equity ratio of 478.10, a quick ratio of 1.05 and a current ratio of 0.60. Air Canada has a 1-year low of C$16.45 and a 1-year high of C$31.45. The firm's 50-day moving average is C$25.88 and its two-hundred day moving average is C$22.34.

Air Canada (TSE:AC - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported C$0.75 earnings per share (EPS) for the quarter. Air Canada had a net margin of 1.82% and a return on equity of 16.92%. The firm had revenue of C$6.98 billion during the quarter. On average, research analysts predict that Air Canada will post 2.58 earnings per share for the current 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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