Air Canada (AC) Given New C$37.00 Price Target at National Bank Financial

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Air Canada (TSE:AC) had its price objective lifted by equities research analysts at National Bank Financial from C$32.00 to C$37.00 in a report issued on Friday. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price target points to a potential upside of 36.33% from the company’s previous close.

A number of other brokerages also recently issued reports on AC. TD Securities raised their price target on shares of Air Canada from C$35.00 to C$44.00 and gave the stock an “action list buy” rating in a report on Friday. Cowen cut their price target on shares of Air Canada from C$34.00 to C$33.00 in a report on Thursday. BMO Capital Markets raised their price target on shares of Air Canada from C$39.00 to C$42.00 in a report on Monday, December 17th. Raymond James lifted their target price on shares of Air Canada from C$22.50 to C$24.00 and gave the company a “market perform” rating in a report on Thursday, November 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Air Canada from C$30.00 to C$34.00 in a report on Friday, November 2nd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of C$35.18.

AC traded up C$0.60 during trading on Friday, reaching C$27.14. The company’s stock had a trading volume of 1,160,410 shares, compared to its average volume of 1,040,386. The company has a debt-to-equity ratio of 146.77, a current ratio of 1.26 and a quick ratio of 1.13. Air Canada has a 1 year low of C$20.33 and a 1 year high of C$29.39.

Air Canada (TSE:AC) last released its earnings results on Wednesday, October 31st. The company reported C$2.03 earnings per share for the quarter, hitting the Zacks’ consensus estimate of C$2.03. The business had revenue of C$5.42 billion during the quarter, compared to analysts’ expectations of C$5.41 billion. Equities research analysts anticipate that Air Canada will post 3.58595387128198 EPS for the current year.

In other news, insider Murray Douglas Strom acquired 2,200 shares of the firm’s stock in a transaction dated Friday, December 7th. The stock was acquired at an average cost of C$27.29 per share, with a total value of C$60,038.00. Also, Director Christie James Beckett Clark acquired 3,700 shares of the firm’s stock in a transaction dated Monday, November 12th. The shares were purchased at an average cost of C$26.60 per share, with a total value of C$98,420.00. In the last quarter, insiders purchased 6,900 shares of company stock valued at $186,038 and sold 6,425 shares valued at $179,704.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Express 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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