Stifel Nicolaus Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Key Points

• Stifel Nicolaus raised its price target on Air Canada from C$24 to C$28 and kept a "buy" rating, implying roughly a 37% upside from the current price.
• The stock's consensus is a Moderate Buy with an average target of C$24.85; eight analysts rate Buy, four Hold and one Sell.
• Air Canada traded at C$20.40 with a market cap of C$6.01 billion, a P/E of 10.97 and a very high debt-to-equity ratio of 400, and a 12‑month range of C$12.69–C$23.72.

Air Canada (TSE:AC - Get Free Report) had its price target lifted by equities researchers at Stifel Nicolaus from C$24.00 to C$28.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 37.25% from the company's current price.

AC has been the topic of a number of other research reports. Raymond James Financial cut Air Canada from an "outperform" rating to a "market perform" rating in a report on Tuesday. Royal Bank Of Canada set a C$25.00 price objective on shares of Air Canada and gave the company an "outperform" rating in a research report on Tuesday, November 25th. UBS Group raised Air Canada to a "hold" rating in a research note on Tuesday, November 18th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Air Canada from C$23.00 to C$24.00 in a research note on Wednesday, January 21st. Finally, National Bank Financial increased their target price on shares of Air Canada from C$23.00 to C$24.00 and gave the stock a "sector perform" rating in a research report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$24.85.

Air Canada Stock Performance

AC traded up C$0.15 during trading on Tuesday, hitting C$20.40. The stock had a trading volume of 1,708,528 shares, compared to its average volume of 2,568,620. The firm has a market capitalization of C$6.01 billion, a P/E ratio of 10.97, a PEG ratio of 0.02 and a beta of 1.59. Air Canada has a twelve month low of C$12.69 and a twelve month high of C$23.72. The company's 50-day moving average price is C$19.49 and its 200 day moving average price is C$18.99. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92.

About Air Canada

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.

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.