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.

In other Air Canada news, Director Benjamin M. Smith sold 30,669 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of C$22.01, for a total transaction of C$675,024.69. Also, insider Duncan Bureau sold 2,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of C$23.58, for a total value of C$47,160.00. Insiders sold a total of 48,544 shares of company stock valued at $1,125,897 over the last ninety days.

ILLEGAL ACTIVITY WARNING: “CIBC Increases Air Canada (AC) Price Target to C$38.00” was published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/01/04/cibc-increases-air-canada-ac-price-target-to-c38-00.html.

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.

Analyst Recommendations for Air Canada (TSE:AC)

Receive News & Ratings for Air Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Canada and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply