Air Canada (TSE:AC) Stock Price Target Lowered at National Bank Financial

Key Points

• National Bank Financial lowered Air Canada’s price target from C$40 to C$37 while maintaining an “outperform” rating, implying approximately 67.5% upside from the current price.
• Analyst sentiment remains broadly positive: seven analysts rate the stock a Buy and three rate it a Hold, producing a “Moderate Buy” consensus and an average target of C$33.04.
• Air Canada shares fell 1.0% to C$22.09, while the company reported C$0.40 quarterly EPS and C$6.27 billion in revenue; analysts expect full-year EPS of C$2.58.

Air Canada (TSE:AC - Get Free Report) had its target price reduced by investment analysts at National Bank Financial from C$40.00 to C$37.00 in a note issued to investors on Thursday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price objective points to a potential upside of 67.50% from the stock's current price.

Several other equities research analysts also recently issued reports on AC. Scotiabank reduced their price objective on Air Canada from C$37.50 to C$33.00 and set a "sector outperform" rating for the company in a research note on Thursday. BMO Capital Markets lifted their target price on Air Canada from C$30.00 to C$37.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Canaccord Genuity Group lowered their target price on Air Canada from C$33.00 to C$29.00 and set a "hold" rating on the stock in a research note on Thursday, October 8th. ATB Cormark Capital Markets increased their price target on shares of Air Canada from C$32.00 to C$45.00 and gave the stock an "outperform" rating in a research report on Thursday, August 13th. Finally, UBS Group raised their price target on shares of Air Canada from C$24.00 to C$33.00 in a report on Thursday, August 13th. Seven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$33.04.

Air Canada Trading Down 1.0%

TSE AC traded down C$0.22 on Thursday, hitting C$22.09. 1,670,717 shares of the stock were exchanged, compared to its average volume of 2,928,560. Air Canada has a 52-week low of C$16.45 and a 52-week high of C$31.45. The company has a debt-to-equity ratio of 478.10, a current ratio of 0.60 and a quick ratio of 1.05. The company has a market capitalization of C$5.58 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 0.02 and a beta of 1.86. The company's 50-day moving average price is C$27.36 and its two-hundred day moving average price is C$23.55.

Air Canada (TSE:AC - Get Free Report) last issued its 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 during the quarter. Research analysts predict that Air Canada will post 2.58 EPS for the current year.

Air Canada Company Profile

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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