Canaccord Genuity Raises Air Canada (AC) Price Target to C$33.00
Air Canada (TSE:AC) had its target price increased by research analysts at Canaccord Genuity from C$31.00 to C$33.00 in a research report issued on Monday. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 25.28% from the company’s previous close.
AC has been the subject of a number of other research reports. CIBC lifted their target price on Air Canada from C$27.00 to C$34.00 in a report on Friday, October 13th. National Bank Financial lifted their target price on Air Canada from C$26.00 to C$33.00 and gave the stock an “outperform” rating in a report on Friday, October 13th. Scotiabank lifted their target price on Air Canada from C$27.00 to C$28.50 and gave the stock a “sector perform” rating in a report on Wednesday, September 20th. Royal Bank Of Canada lifted their target price on Air Canada from C$26.00 to C$31.00 and gave the stock a “top pick” rating in a report on Wednesday, September 20th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a C$34.00 target price on shares of Air Canada in a report on Wednesday, September 20th. Three analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. Air Canada has a consensus rating of “Buy” and an average target price of C$30.50.
Shares of Air Canada (TSE:AC) traded up 0.53% during mid-day trading on Monday, reaching $26.34. The company’s stock had a trading volume of 1,363,320 shares. Air Canada has a 12-month low of $11.60 and a 12-month high of $28.70. The stock has a market capitalization of $7.15 billion and a P/E ratio of 8.63. The company’s 50-day moving average price is $21.96 and its 200-day moving average price is $17.12.
In other Air Canada news, insider Arielle Meloul-Wechsler sold 2,021 shares of Air Canada stock in a transaction on Friday, August 11th. The stock was sold at an average price of C$21.50, for a total transaction of C$43,451.50. Also, insider Yves Dufresne sold 1,677 shares of Air Canada stock in a transaction on Thursday, August 10th. The shares were sold at an average price of C$22.15, for a total value of C$37,145.55. Insiders have sold a total of 1,001,939 shares of company stock valued at $20,827,620 over the last three months.
About Air Canada
Air Canada provides the U.S. transbonder and international airline services. The company offers scheduled passenger services under the Air Canada Express brand name in the Canadian market, the Canada-U.S. transbonder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.
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