Scotiabank Raises Air Canada (TSE:AC) Price Target to C$26.50

Air Canada (TSE:AC) had its target price boosted by Scotiabank from C$25.00 to C$26.50 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 36.11% from the company’s current price.

Other equities analysts have also issued reports about the stock. BMO Capital Markets lowered their price objective on shares of Air Canada from C$28.00 to C$27.00 in a research report on Thursday, October 9th. Canaccord Genuity Group reduced their target price on shares of Air Canada from C$28.00 to C$25.00 and set a “buy” rating for the company in a research note on Thursday, September 25th. UBS Group raised shares of Air Canada to a “hold” rating in a report on Tuesday, November 18th. Stifel Nicolaus cut their price target on shares of 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. Finally, Royal Bank Of Canada set a C$25.00 price objective on shares of Air Canada and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$24.42.

Air Canada Price Performance

AC stock opened at C$19.47 on Wednesday. The business’s 50-day moving average is C$19.07 and its two-hundred day 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. The firm has a market capitalization of C$5.77 billion, a P/E ratio of -28.22, a P/E/G ratio of 0.02 and a beta of 1.75. Air Canada has a 1 year low of C$12.69 and a 1 year high of C$23.72.

Air Canada (TSE:AC) last released its quarterly earnings data on Tuesday, November 4th. The company reported C$0.75 earnings per share (EPS) for the quarter. The business had revenue of C$5.77 billion during the quarter. Air Canada had a net margin of 11.57% and a return on equity of 177.01%. Analysts anticipate that Air Canada will post 2.5789474 earnings per share 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.