Air Canada (TSE:AC) Price Target Raised to C$50.00

Air Canada (TSE:AC) had its target price upped by CIBC from C$48.00 to C$50.00 in a report issued on Thursday morning, BayStreet.CA reports.

Other equities research analysts also recently issued research reports about the stock. Cowen restated a buy rating and issued a $258.00 target price on shares of Canadian Pacific Railway in a research note on Tuesday, July 16th. Raymond James reduced their target price on shares of Adaptimmune Therapeutics from $16.00 to $6.00 and set an outperform rating on the stock in a research note on Tuesday, May 7th. National Bank Financial upgraded shares of Slate Office REIT from a sector perform under weight rating to an outperfrom under weight rating in a research note on Tuesday, May 7th. Royal Bank of Canada restated a hold rating and issued a $0.35 target price on shares of DB Commodity Double Short ETN in a research note on Friday, July 12th. Finally, Morgan Stanley restated an underweight rating and issued a C$18.00 target price on shares of WestJet Airlines in a research note on Friday, April 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of C$46.27.

AC opened at C$44.21 on Thursday. Air Canada has a fifty-two week low of C$21.79 and a fifty-two week high of C$45.50. The company has a debt-to-equity ratio of 294.80, a current ratio of 0.93 and a quick ratio of 0.85. The business’s fifty day simple moving average is C$40.55. The firm has a market capitalization of $11.97 billion and a P/E ratio of 17.14.

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

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

About Air Canada

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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