National Bank Financial Has Lowered Expectations for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its target price lowered by stock analysts at National Bank Financial from C$25.00 to C$22.00 in a research report issued on Thursday,BayStreet.CA reports. National Bank Financial’s price target would indicate a potential upside of 22.84% from the stock’s current price.

A number of other brokerages also recently weighed in on AC. Raymond James Financial downgraded Air Canada from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, February 17th. Canaccord Genuity Group downgraded Air Canada from a “buy” rating to a “hold” rating and lowered their price target for the company from C$28.00 to C$21.00 in a report on Friday, March 13th. Stifel Nicolaus lifted their price target on shares of Air Canada from C$24.00 to C$28.00 and gave the company a “buy” rating in a research report on Tuesday, February 17th. BMO Capital Markets dropped their price target on shares of Air Canada from C$27.00 to C$26.00 in a research report on Tuesday. Finally, Canadian Imperial Bank of Commerce boosted their price objective on shares of Air Canada from C$23.00 to C$24.00 in a research note on Wednesday, January 21st. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Air Canada presently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.33.

Air Canada Stock Down 4.9%

Shares of TSE:AC traded down C$0.92 on Thursday, reaching C$17.91. The company had a trading volume of 3,612,249 shares, compared to its average volume of 3,033,129. The stock has a market capitalization of C$5.28 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.02 and a beta of 1.56. The stock has a 50-day moving average price of C$19.13 and a 200 day moving average price of C$18.87. Air Canada has a twelve month low of C$12.69 and a twelve month high of C$23.72. The company has a quick ratio of 1.06, a current ratio of 0.56 and a debt-to-equity ratio of 446.78.

About Air Canada

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.