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

Air Canada (TSE:AC) had its target price increased by Scotiabank from C$24.00 to C$26.50 in a report published on Monday morning,BayStreet.CA reports.

A number of other research firms also recently commented on AC. National Bankshares reduced their target price on Air Canada from C$24.00 to C$22.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. Raymond James lowered their target price on Air Canada from C$28.00 to C$22.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. BMO Capital Markets lowered their target price on Air Canada from C$33.00 to C$28.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lowered their price objective on Air Canada from C$41.00 to C$36.00 in a research report on Thursday, August 8th. Finally, Stifel Canada raised Air Canada to a “hold” rating in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$25.25.

Air Canada Stock Performance

Shares of Air Canada stock opened at C$23.14 on Monday. Air Canada has a one year low of C$14.47 and a one year high of C$23.70. The company has a market cap of C$8.30 billion, a price-to-earnings ratio of 5.17, a PEG ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85. The business’s 50 day moving average price is C$17.12 and its 200 day moving average price is C$17.45.

Air Canada (TSE:AC) last announced its quarterly earnings data on Wednesday, August 7th. The company reported C$0.98 EPS for the quarter, topping analysts’ consensus estimates of C$0.85 by C$0.13. Air Canada had a return on equity of 603.77% and a net margin of 7.92%. The firm had revenue of C$5.52 billion for the quarter, compared to the consensus estimate of C$5.55 billion. On average, research analysts predict that Air Canada will post 2.5789474 EPS for the current year.

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.