Royal Bank Of Canada Cuts Air Canada (TSE:AC) Price Target to C$22.00

Key Points

• Royal Bank of Canada cut its Air Canada price target from C$25.00 to C$22.00, which the bank says implies about a 16.96% upside from the current share price.
• Multiple other brokers (Scotiabank, Canaccord, BMO, National Bank, CIBC) have also trimmed targets and ratings; the stock carries a consensus rating of Moderate Buy with an average target of C$23.92.
• Air Canada shares were trading at C$18.81, with a market cap of C$5.54 billion, a P/E of 10.11 and a one‑year range of C$13.65–C$23.72.

Air Canada (TSE:AC - Get Free Report) had its price objective decreased by stock analysts at Royal Bank Of Canada from C$25.00 to C$22.00 in a note issued to investors on Monday,BayStreet.CA reports. Royal Bank Of Canada's price target indicates a potential upside of 16.96% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Scotiabank downgraded Air Canada from an "outperform" rating to a "hold" rating and cut their price target for the stock from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Canaccord Genuity Group downgraded Air Canada from a "buy" rating to a "hold" rating and cut their price target for the stock from C$28.00 to C$21.00 in a report on Friday, March 13th. BMO Capital Markets cut their price target on Air Canada from C$27.00 to C$26.00 in a report on Tuesday, March 31st. National Bank Financial cut their price target on Air Canada from C$25.00 to C$22.00 in a report on Thursday, April 2nd. Finally, Canadian Imperial Bank of Commerce cut their price target on Air Canada from C$25.00 to C$22.00 in a report on Wednesday, April 8th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$23.92.

Air Canada Trading Up 0.3%

Shares of AC stock traded up C$0.05 on Monday, hitting C$18.81. The stock had a trading volume of 1,560,216 shares, compared to its average volume of 3,057,400. The company has a debt-to-equity ratio of 446.78, a current ratio of 0.56 and a quick ratio of 1.06. The firm has a market capitalization of C$5.54 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.02 and a beta of 1.56. Air Canada has a 1 year low of C$13.65 and a 1 year high of C$23.72. The company's 50 day moving average price is C$19.01 and its 200-day moving average price is C$18.85.

Air Canada Company Profile

Air Canada is Canada's largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.

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