Air Canada (TSE:AC) Given New C$29.50 Price Target at Cormark

Air Canada (TSE:AC) had its price target raised by investment analysts at Cormark from C$26.75 to C$29.50 in a report released on Wednesday,BayStreet.CA reports. Cormark’s target price suggests a potential upside of 35.82% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on AC. Stifel Canada raised shares of Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 3rd. Stifel Nicolaus upgraded shares of Air Canada from a “hold” rating to a “buy” rating and upped their target price for the company from C$20.00 to C$25.50 in a research report on Monday, November 4th. National Bankshares lifted their price target on Air Canada from C$22.00 to C$27.00 in a research report on Monday, November 4th. CIBC boosted their price objective on Air Canada from C$27.00 to C$28.00 in a research note on Wednesday, December 4th. Finally, Canaccord Genuity Group raised their price objective on Air Canada from C$25.00 to C$29.00 in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$26.50.

Air Canada Stock Up 0.6 %

Shares of AC opened at C$21.72 on Wednesday. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The stock has a market capitalization of C$7.79 billion, a price-to-earnings ratio of 4.85, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a 1 year low of C$14.47 and a 1 year high of C$26.18. The business’s 50 day simple moving average is C$22.14 and its 200-day simple moving average is C$18.51.

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.