CIBC Increases Air Canada (AC) Price Target to C$38.00
Air Canada (TSE:AC) had its target price boosted by investment analysts at CIBC from C$36.00 to C$38.00 in a research report issued to clients and investors on Thursday. CIBC’s price target would indicate a potential upside of 49.78% from the company’s current price.
A number of other brokerages also recently issued reports on AC. TD Securities increased their target price on Air Canada from C$34.00 to C$36.00 and gave the stock an “action list buy” rating in a research note on Thursday, October 26th. BMO Capital Markets reissued an “outperform” rating and set a C$34.00 target price on shares of Air Canada in a research note on Wednesday, September 20th. Canaccord Genuity increased their target price on Air Canada from C$31.00 to C$33.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd. Royal Bank of Canada increased their target price on Air Canada from C$26.00 to C$31.00 and gave the stock a “top pick” rating in a research note on Wednesday, September 20th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a C$29.00 target price on shares of Air Canada in a research note on Monday, November 13th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of C$31.05.
Air Canada (TSE:AC) traded down C$0.82 during trading on Thursday, reaching C$25.37. The company’s stock had a trading volume of 2,146,177 shares, compared to its average volume of 1,562,012. The firm has a market cap of $6,900.00, a PE ratio of 3.76 and a beta of 1.18. Air Canada has a 52 week low of C$12.49 and a 52 week high of C$28.70.
Air Canada Company Profile
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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