BMO Capital Markets Issues Pessimistic Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price objective reduced by investment analysts at BMO Capital Markets from C$27.00 to C$26.00 in a report issued on Tuesday,BayStreet.CA reports. BMO Capital Markets’ price target indicates a potential upside of 38.08% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. National Bank Financial boosted their target price on Air Canada from C$24.00 to C$25.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Canadian Imperial Bank of Commerce lifted their price target on Air Canada from C$23.00 to C$24.00 in a research note on Wednesday, January 21st. Scotiabank downgraded Air Canada from an “outperform” rating to a “hold” rating and cut their price objective for the stock from C$27.00 to C$21.00 in a report on Tuesday, March 10th. Jefferies Financial Group upped their price objective on shares of Air Canada from C$17.00 to C$19.00 in a research note on Tuesday. Finally, Stifel Nicolaus raised their target price on shares of Air Canada from C$24.00 to C$28.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$24.58.

Air Canada Price Performance

Shares of TSE:AC opened at C$18.83 on Tuesday. The company has a market capitalization of C$5.55 billion, a PE ratio of 10.12, a price-to-earnings-growth ratio of 0.02 and a beta of 1.56. The company has a debt-to-equity ratio of 446.78, a quick ratio of 1.06 and a current ratio of 0.56. The stock has a fifty day moving average of C$19.13 and a 200-day moving average of C$18.87. Air Canada has a one year low of C$12.69 and a one year high of C$23.72.

Air Canada Company Profile

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.