Royal Bank of Canada Increases Air Canada (TSE:AC) Price Target to C$48.00

Air Canada (TSE:AC) had its price target lifted by Royal Bank of Canada from C$46.00 to C$48.00 in a research report released on Friday morning, BayStreet.CA reports.

Other equities analysts have also recently issued reports about the company. National Bank Financial raised Slate Office REIT from a sector perform under weight rating to an outperfrom under weight rating in a report on Tuesday, May 7th. CIBC increased their target price on Stella-Jones from C$51.00 to C$53.00 in a report on Tuesday, May 7th. JPMorgan Chase & Co. increased their target price on LYFT from $82.00 to $86.00 in a report on Wednesday, May 8th. Raymond James dropped their target price on Adaptimmune Therapeutics from $16.00 to $6.00 and set an outperform rating for the company in a report on Tuesday, May 7th. Finally, Cormark reissued a market perform rating and issued a C$21.00 target price on shares of WestJet Airlines in a report on Tuesday, March 19th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of C$45.09.

Shares of AC opened at C$42.87 on Friday. Air Canada has a 1 year low of C$20.65 and a 1 year high of C$43.40. The company has a debt-to-equity ratio of 294.80, a quick ratio of 0.85 and a current ratio of 0.93. The stock has a 50 day moving average of C$40.32. The firm has a market cap of $11.51 billion and a PE ratio of 16.62.

Air Canada (TSE:AC) last issued its earnings results on Monday, May 6th. The company reported C$0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C($0.18) by C$0.24. The company had revenue of C$4.45 billion during the quarter, compared to analyst estimates of C$4.38 billion. As a group, analysts anticipate that Air Canada will post 4.5700001 earnings per share for the current fiscal year.

In related news, Senior Officer Pierre Houle sold 1,955 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of C$35.81, for a total transaction 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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