Jefferies Financial Group Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its target price raised by equities researchers at Jefferies Financial Group from C$22.00 to C$23.00 in a report released on Monday,BayStreet.CA reports. Jefferies Financial Group’s price target points to a potential upside of 4.26% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 3rd. Raymond James raised shares of Air Canada to a “moderate buy” rating in a report on Tuesday, December 17th. Cormark lifted their target price on shares of Air Canada from C$26.75 to C$29.50 in a research report on Wednesday, December 18th. BMO Capital Markets increased their price target on shares of Air Canada from C$29.00 to C$31.00 in a research report on Wednesday, December 18th. Finally, ATB Capital lifted their price objective on Air Canada from C$28.00 to C$31.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$26.60.

Air Canada Stock Down 1.1 %

AC opened at C$22.06 on Monday. The business has a 50 day moving average of C$23.34 and a 200-day moving average of C$18.91. The stock has a market capitalization of C$7.91 billion, a price-to-earnings ratio of 4.92, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. Air Canada has a 1-year low of C$14.47 and a 1-year high of C$26.18.

Insider Buying and Selling at Air Canada

In other news, Senior Officer Arielle Meloul-Wechsler sold 6,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of C$21.71, for a total transaction of C$130,246.80. Insiders own 0.14% of the company’s stock.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.