CIBC Raises Air Canada (TSE:AC) Price Target to C$28.00

Air Canada (TSE:AC) had its price target upped by analysts at CIBC from C$27.00 to C$28.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s target price indicates a potential upside of 11.33% from the company’s previous close.

A number of other equities analysts have also commented on the company. Citigroup raised their price target on Air Canada from C$21.00 to C$28.50 in a report on Monday, November 18th. Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 3rd. ATB Capital boosted their price objective on shares of Air Canada from C$26.50 to C$28.00 in a report on Monday, November 4th. Cormark boosted their target price on shares of Air Canada from C$21.75 to C$26.75 in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Air Canada from C$32.00 to C$34.00 in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.82.

Air Canada Stock Up 1.0 %

AC stock traded up C$0.25 during trading on Wednesday, reaching C$25.15. 1,981,646 shares of the stock were exchanged, compared to its average volume of 2,485,376. The firm’s 50 day moving average is C$20.18 and its 200 day moving average is C$18.03. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$25.19. 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. The firm has a market cap of C$9.02 billion, a P/E ratio of 5.61, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

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.