TD Securities Has Lowered Expectations for Air Canada (TSE:AC) Stock Price

Key Points

• TD Securities has reduced its price target for Air Canada (TSE:AC) from C$25.00 to C$22.00, indicating a potential upside of 23.18% from the current price.
• Other research firms, including National Bank Financial and CIBC, have also downgraded their ratings and price targets for Air Canada, reflecting a cautious outlook on the stock.
• Despite recent downgrades, Air Canada maintains a consensus rating of "Moderate Buy" with an average price target of C$24.91, supported by varying ratings from multiple analysts.

Air Canada (TSE:AC - Get Free Report) had its price target reduced by equities research analysts at TD Securities from C$25.00 to C$22.00 in a research note issued on Friday,BayStreet.CA reports. TD Securities' target price points to a potential upside of 23.18% from the company's current price.

A number of other research firms also recently weighed in on AC. National Bank Financial downgraded shares of Air Canada from a "strong-buy" rating to a "hold" rating in a research note on Tuesday. National Bankshares cut shares of Air Canada from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from C$26.00 to C$22.00 in a report on Wednesday. CIBC reduced their target price on shares of Air Canada from C$24.00 to C$22.00 and set an "outperform" rating for the company in a research note on Friday. ATB Capital increased their target price on shares of Air Canada from C$31.00 to C$32.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Canaccord Genuity Group dropped their price target on shares of Air Canada from C$28.00 to C$25.00 and set a "buy" rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$24.91.

Air Canada Stock Down 0.7%

Shares of TSE AC traded down C$0.12 during mid-day trading on Friday, reaching C$17.86. The company had a trading volume of 2,965,104 shares, compared to its average volume of 3,328,038. Air Canada has a twelve month low of C$12.69 and a twelve month high of C$26.18. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92. The stock has a market capitalization of C$5.29 billion, a PE ratio of 4.52, a price-to-earnings-growth ratio of 0.02 and a beta of 1.73. The stock's 50 day moving average is C$19.52 and its 200-day moving average is C$18.02.

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.

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