Stifel Nicolaus Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Key Points

• Stifel Nicolaus has raised its price objective for Air Canada shares from C$23.00 to C$25.00, maintaining a "buy" rating and indicating a potential upside of 29% from the stock's previous close.
• Other analysts have also increased their price targets for Air Canada, with National Bankshares setting a new target of C$26.00 and Canaccord Genuity lifting theirs to C$28.00, while CIBC decreased theirs to C$21.00.
• The consensus rating for Air Canada is currently a "Moderate Buy," with a target price forecast of C$25.63 from various research analysts.

Air Canada (TSE:AC - Get Free Report) had its price objective raised by equities research analysts at Stifel Nicolaus from C$23.00 to C$25.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target would suggest a potential upside of 31.16% from the stock's previous close.

AC has been the subject of several other research reports. National Bankshares upped their target price on shares of Air Canada from C$24.00 to C$26.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Canaccord Genuity Group upped their price objective on shares of Air Canada from C$27.00 to C$28.00 and gave the company a "buy" rating in a research report on Wednesday. CIBC lowered their target price on Air Canada from C$24.00 to C$21.00 in a report on Thursday, April 10th. Royal Bank Of Canada upgraded Air Canada from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from C$16.00 to C$25.00 in a report on Monday, May 12th. Finally, Scotiabank increased their target price on Air Canada from C$24.00 to C$27.00 and gave the stock an "outperform" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of C$25.63.

Air Canada Price Performance

TSE AC traded down C$0.24 during trading on Thursday, reaching C$19.06. 3,044,175 shares of the company traded hands, compared to its average volume of 3,487,817. The company has a market cap of C$6.80 billion, a price-to-earnings ratio of 2.68, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. Air Canada has a 1-year low of C$12.69 and a 1-year high of C$26.18. The stock's 50 day moving average price is C$20.27 and its two-hundred day moving average price is C$17.76.

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.