Air Canada (TSE:AC) Price Target Raised to C$31.00

Air Canada (TSE:AC) had its price target boosted by analysts at ATB Capital from C$28.00 to C$31.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Capital’s price objective indicates a potential upside of 37.84% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. TD Cowen upped their price target on shares of Air Canada to C$25.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Jefferies Financial Group upped their price target on shares of Air Canada from C$18.00 to C$22.00 in a report on Tuesday, November 5th. Cormark upped their price target on shares of Air Canada from C$21.75 to C$26.75 in a report on Monday, November 4th. CIBC upped their price target on shares of Air Canada from C$27.00 to C$28.00 in a report on Wednesday, December 4th. Finally, Stifel Canada raised shares of Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 3rd. Two equities research 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. According to data from MarketBeat, Air Canada has an average rating of “Moderate Buy” and a consensus price target of C$26.50.

Air Canada Stock Performance

AC stock traded down C$0.10 during trading on Wednesday, hitting C$22.49. 2,981,134 shares of the company’s stock traded hands, compared to its average volume of 2,571,360. The stock has a fifty day moving average price of C$21.93 and a two-hundred day moving average price of C$18.46. The stock has a market capitalization of C$8.06 billion, a price-to-earnings ratio of 5.02, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99. Air Canada has a 52 week low of C$14.47 and a 52 week high of C$26.18.

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.