TD Securities Cuts Air Canada (TSE:AC) Price Target to C$22.00

Air Canada (TSE:AC) had its target price cut by TD Securities from C$25.00 to C$22.00 in a research note released on Friday morning,BayStreet.CA reports.

A number of other brokerages have also weighed in on AC. Raymond James Financial boosted their price objective on shares of Air Canada from C$24.00 to C$27.00 and gave the stock a “moderate buy” rating in a report on Tuesday, July 22nd. CIBC decreased their price objective on shares of Air Canada from C$24.00 to C$22.00 and set an “outperform” rating for the company in a report on Friday. ATB Capital boosted their price objective on shares of Air Canada from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. National Bankshares lowered shares of Air Canada from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from C$26.00 to C$22.00 in a report on Wednesday, September 24th. Finally, Scotiabank decreased their price objective on shares of Air Canada from C$27.00 to C$26.00 and set an “outperform” rating for the company in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$24.91.

Air Canada Stock Performance

Shares of AC opened at C$17.78 on Friday. Air Canada has a 52 week low of C$12.69 and a 52 week high of C$26.18. The stock has a market cap of C$5.27 billion, a P/E ratio of 4.50, a P/E/G ratio of 0.02 and a beta of 1.73. The business’s 50 day moving average price is C$19.46 and its 200-day moving average price is C$18.07. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00.

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.