Cormark Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its price target lifted by equities research analysts at Cormark from C$26.75 to C$29.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. Cormark’s target price indicates a potential upside of 31.17% from the stock’s previous close.

Several other research firms have also recently issued reports on AC. Jefferies Financial Group upped their price objective on Air Canada from C$18.00 to C$22.00 in a research report on Tuesday, November 5th. Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday, November 3rd. Stifel Nicolaus raised Air Canada from a “hold” rating to a “buy” rating and boosted their target price for the company from C$20.00 to C$25.50 in a report on Monday, November 4th. National Bankshares boosted their target price on Air Canada from C$22.00 to C$27.00 in a report on Monday, November 4th. Finally, Scotiabank boosted their target price on Air Canada from C$26.50 to C$29.00 and gave the company an “outperform” rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$26.50.

Air Canada Trading Down 0.4 %

Air Canada stock traded down C$0.10 during trading on Wednesday, reaching C$22.49. 2,981,134 shares of the company were exchanged, compared to its average volume of 2,571,360. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$26.18. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. The company has a market capitalization of C$8.06 billion, a P/E ratio of 5.02, a PEG ratio of 0.02 and a beta of 2.39. The stock’s 50 day simple moving average is C$21.93 and its two-hundred day simple moving average is C$18.46.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names 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.