Air Canada (TSE:AC) Stock Price Expected to Rise, Scotiabank Analyst Says

Air Canada (TSE:AC) had its price target upped by Scotiabank from C$26.50 to C$29.00 in a research report released on Wednesday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other brokerages have also issued reports on AC. Citigroup lifted their price objective on shares of Air Canada from C$21.00 to C$28.50 in a report on Monday, November 18th. National Bankshares boosted their price objective on shares of Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. Jefferies Financial Group lifted their price target on shares of Air Canada from C$18.00 to C$22.00 in a report on Tuesday, November 5th. BMO Capital Markets increased their price objective on Air Canada from C$29.00 to C$31.00 in a report on Wednesday. Finally, Stifel Canada upgraded 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 issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Air Canada presently has an average rating of “Moderate Buy” and a consensus price target of C$26.50.

Air Canada Stock Performance

Shares of TSE:AC opened at C$21.58 on Wednesday. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$26.18. The firm’s 50-day moving average is C$22.03 and its 200 day moving average is C$18.49. The company has a market capitalization of C$7.74 billion, a price-to-earnings ratio of 4.82, a PEG 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 Company Profile

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.