Scotiabank Lowers Air Canada (TSE:AC) Price Target to C$26.00

Key Points

• Scotiabank has lowered its price target for Air Canada from C$27.00 to C$26.00 while maintaining an "outperform" rating, indicating a 35.49% potential upside from the previous close.
• Air Canada currently holds an average rating of "Moderate Buy" among analysts with a consensus price target of C$25.57, with most analysts showing positive sentiments towards the stock despite some variations in price targets.
• As of now, Air Canada’s share price traded at C$19.19, with a notable debt-to-equity ratio of 400.00 and significant fluctuations over the past year, reaching a high of C$26.18.

Air Canada (TSE:AC - Get Free Report) had its target price reduced by equities researchers at Scotiabank from C$27.00 to C$26.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's target price would suggest a potential upside of 35.91% from the stock's previous close.

Other analysts have also issued reports about the stock. Stifel Nicolaus upped their price objective on shares of Air Canada from C$23.00 to C$25.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Canaccord Genuity Group upped their price objective on shares of Air Canada from C$27.00 to C$28.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Royal Bank Of Canada decreased their price target on shares of Air Canada from C$27.00 to C$25.00 and set an "outperform" rating for the company in a research report on Wednesday, August 20th. Citigroup set a C$25.00 price target on shares of Air Canada and gave the company a "buy" rating in a research report on Monday, June 30th. Finally, ATB Capital increased their price target on shares of Air Canada from C$31.00 to C$32.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$25.57.

Air Canada Stock Down 0.5%

TSE:AC traded down C$0.10 during mid-day trading on Wednesday, reaching C$19.13. The company's stock had a trading volume of 2,526,964 shares, compared to its average volume of 3,376,516. Air Canada has a 1 year low of C$12.69 and a 1 year high of C$26.18. The stock has a fifty day moving average of C$20.42 and a 200-day moving average of C$17.82. The firm has a market capitalization of C$5.66 billion, a PE ratio of 4.84, a price-to-earnings-growth ratio of 0.02 and a beta of 1.73. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00.

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.