Air Canada (TSE:AC) Given New C$50.00 Price Target at Canaccord Genuity

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Air Canada (TSE:AC) had its price target raised by analysts at Canaccord Genuity from C$45.00 to C$50.00 in a note issued to investors on Tuesday, BayStreet.CA reports. Canaccord Genuity’s price objective indicates a potential upside of 13.40% from the stock’s previous close.

Several other brokerages also recently weighed in on AC. National Bank Financial downgraded shares of Pure Multi-Family REIT from an “outperfrom under weight” rating to a “sector perform under weight” rating in a report on Friday. CIBC reaffirmed a “hold” rating and issued a $2.50 target price on shares of Advantage Oil & Gas in a report on Thursday, July 18th. TD Securities lowered their target price on shares of Transcontinental from C$25.00 to C$22.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Cowen reissued a “buy” rating and set a $258.00 price objective on shares of Canadian Pacific Railway in a report on Tuesday, July 16th. Finally, Raymond James decreased their price objective on shares of 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 six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of C$46.73.

TSE AC traded down C$0.01 during trading on Tuesday, reaching C$44.09. The company’s stock had a trading volume of 563,566 shares, compared to its average volume of 1,136,115. The company has a current ratio of 0.93, a quick ratio of 0.85 and a debt-to-equity ratio of 294.80. The firm has a market capitalization of $11.97 billion and a price-to-earnings ratio of 17.09. Air Canada has a twelve month low of C$21.90 and a twelve month high of C$45.50. The business’s fifty day moving average is C$40.80.

Air Canada (TSE:AC) last posted its quarterly earnings data on Monday, May 6th. The company reported C$0.06 EPS for the quarter, beating analysts’ consensus estimates of C($0.18) by C$0.24. The business had revenue of C$4.45 billion during the quarter, compared to analyst estimates of C$4.38 billion. On average, equities analysts predict that Air Canada will post 4.5700004 earnings per share for the current fiscal year.

In other Air Canada news, Senior Officer Pierre Houle sold 1,955 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of C$35.81, for a total value of C$70,009.53.

Air Canada Company Profile

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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