CIBC Increases Air Canada (TSE:AC) Price Target to C$24.00

Air Canada (TSE:AC) had its target price boosted by CIBC from C$23.00 to C$24.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s target price would indicate a potential upside of 23.27% from the stock’s current price.

Other analysts have also issued research reports about the company. Stifel Nicolaus cut their price objective on Air Canada from C$25.00 to C$24.00 and set a “buy” rating for the company in a report on Friday, September 26th. Canaccord Genuity Group cut their price target on shares of Air Canada from C$28.00 to C$25.00 and set a “buy” rating for the company in a report on Thursday, September 25th. National Bankshares lifted their price objective on shares of Air Canada from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a research note on Wednesday, January 14th. TD Securities reduced their target price on shares of Air Canada from C$25.00 to C$22.00 in a report on Friday, September 26th. Finally, UBS Group upgraded shares of Air Canada to a “hold” rating in a research report on Tuesday, November 18th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.42.

Air Canada Price Performance

TSE AC opened at C$19.47 on Wednesday. Air Canada has a 12 month low of C$12.69 and a 12 month high of C$23.72. The firm has a market capitalization of C$5.77 billion, a PE ratio of -28.22, a P/E/G ratio of 0.02 and a beta of 1.75. The company’s 50 day simple moving average is C$19.07 and its 200 day simple moving average is C$19.23. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06.

Air Canada (TSE:AC) last released its earnings results on Tuesday, November 4th. The company reported C$0.75 earnings per share for the quarter. The firm had revenue of C$5.77 billion during the quarter. Air Canada had a return on equity of 177.01% and a net margin of 11.57%. As a group, equities research analysts forecast that Air Canada will post 2.5789474 EPS for the current fiscal year.

About Air Canada

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.