JPMorgan Chase & Co. Raises Air Canada (AC) Price Target to C$30.00

Air Canada (TSE:AC) had its price objective upped by JPMorgan Chase & Co. from C$27.00 to C$30.00 in a research note published on Tuesday morning.

A number of other brokerages have also recently weighed in on AC. TD Securities raised their target price on shares of Air Canada from C$34.00 to C$36.00 and gave the stock an action list buy rating in a report on Wednesday, February 21st. Scotiabank upgraded shares of Air Canada from a sector perform rating to an outperform rating and raised their target price for the stock from C$29.25 to C$32.00 in a report on Tuesday, February 20th. Macquarie upgraded shares of Air Canada from a neutral rating to an outperform rating and raised their target price for the stock from C$28.00 to C$35.00 in a report on Tuesday, February 20th. CIBC raised their target price on shares of Air Canada from C$36.00 to C$38.00 in a report on Thursday, January 4th. Finally, National Bank Financial restated an outperform market weight rating on shares of Air Canada in a report on Sunday, January 14th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of C$32.45.

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Shares of Air Canada (AC) opened at C$27.58 on Tuesday. The firm has a market cap of $7,530.00, a P/E ratio of 3.75 and a beta of 0.74. Air Canada has a 1-year low of C$12.49 and a 1-year high of C$28.70.

In related news, insider Pierre Houle sold 2,238 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of C$26.11, for a total value of C$58,434.18. Also, insider Eddy Doyle sold 2,063 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of C$27.20, for a total transaction of C$56,113.60. Insiders sold a total of 22,018 shares of company stock valued at $594,583 in the last ninety days.

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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.

Analyst Recommendations for Air Canada (TSE:AC)

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