Air Canada (TSE:AC) Stock Price Target Cut by Scotia

Key Points

• Scotia lowered Air Canada’s price target from C$33 to C$31 while maintaining a “sector outperform” rating, implying approximately 54.23% upside from the prior close.
• Analyst sentiment remains broadly positive but mixed: eight analysts rate the stock Buy, two Hold, and one Sell, producing a consensus “Moderate Buy” rating and C$31 target.
• Air Canada shares fell to C$20.10 in Friday trading. The company recently reported C$0.75 quarterly EPS and C$6.98 billion in revenue, while carrying a high debt-to-equity ratio of 478.10.

Air Canada (TSE:AC - Get Free Report) had its price objective dropped by analysts at Scotia from C$33.00 to C$31.00 in a research note issued on Friday, BayStreet reports. The firm presently has a "sector outperform" rating on the stock. Scotia's target price would suggest a potential upside of 54.23% from the stock's previous close.

Several other research analysts have also issued reports on the stock. Jefferies Financial Group lowered shares of Air Canada from a "hold" rating to a "moderate sell" rating and dropped their price target for the stock from C$26.00 to C$19.00 in a research report on Monday, October 19th. Canaccord Genuity Group raised Air Canada from a "hold" rating to a "buy" rating and cut their target price for the company from C$29.00 to C$25.00 in a research note on Thursday, October 22nd. UBS Group boosted their target price on Air Canada from C$24.00 to C$33.00 in a research report on Thursday, August 13th. Stifel Nicolaus decreased their target price on Air Canada from C$38.00 to C$32.00 and set a "buy" rating for the company in a research note on Thursday. Finally, ATB Cormark Capital Markets reduced their target price 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 equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$31.00.

Air Canada Price Performance

TSE:AC traded down C$1.77 during midday trading on Friday, hitting C$20.10. 4,124,617 shares of the stock were exchanged, compared to its average volume of 2,919,360. The company has a market capitalization of C$5.08 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 0.02 and a beta of 1.86. The company has a current ratio of 0.60, a quick ratio of 1.05 and a debt-to-equity ratio of 478.10. Air Canada has a one year low of C$16.45 and a one year high of C$31.45. The business has a 50-day moving average price of C$25.88 and a two-hundred day moving average price of C$22.34.

Air Canada (TSE:AC - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported C$0.75 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 business had revenue of C$6.98 billion for the quarter. Sell-side analysts predict that Air Canada will post 2.58 EPS 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.

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.