Air Canada (TSE:AC) Price Target Raised to C$48.00

Air Canada (TSE:AC) had its target price boosted by equities research analysts at Royal Bank of Canada from C$46.00 to C$48.00 in a research note issued to investors on Friday, BayStreet.CA reports. Royal Bank of Canada’s price target indicates a potential upside of 13.10% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Cormark reissued a “market perform” rating and set a C$21.00 price objective on shares of WestJet Airlines in a report on Tuesday, March 19th. CIBC raised their price objective on Stella-Jones from C$51.00 to C$53.00 in a report on Tuesday, May 7th. Morgan Stanley reissued an “underweight” rating and set a C$18.00 price objective on shares of WestJet Airlines in a report on Friday, April 5th. JPMorgan Chase & Co. raised their price objective on LYFT from $82.00 to $86.00 in a report on Wednesday, May 8th. Finally, Raymond James decreased their price objective on Adaptimmune Therapeutics from $16.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Air Canada presently has a consensus rating of “Buy” and a consensus price target of C$45.09.

Shares of TSE AC traded up C$0.56 during trading hours on Friday, reaching C$42.44. 771,094 shares of the stock traded hands, compared to its average volume of 1,135,512. The stock has a market cap of $11.37 billion and a P/E ratio of 16.47. The company has a debt-to-equity ratio of 294.80, a current ratio of 0.93 and a quick ratio of 0.85. Air Canada has a 52-week low of C$20.65 and a 52-week high of C$42.72. The business’s 50-day moving average is C$40.13.

Air Canada (TSE:AC) last announced its quarterly earnings data on Monday, May 6th. The company reported C$0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of C($0.18) by C$0.24. The firm had revenue of C$4.45 billion for the quarter, compared to analysts’ expectations of C$4.38 billion. Analysts predict that Air Canada will post 4.5700001 earnings per share for the current year.

In other Air Canada news, Senior Officer Pierre Houle sold 1,955 shares of Air Canada stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of C$35.81, for a total value of C$70,009.53.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

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Analyst Recommendations for Air Canada (TSE:AC)

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