Air Canada (TSE:AC) Price Target Increased to C$56.00 by Analysts at AltaCorp Capital

Air Canada (TSE:AC) had its price target lifted by AltaCorp Capital from C$51.00 to C$56.00 in a research note released on Wednesday, BayStreet.CA reports. AltaCorp Capital currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity lifted their target price on shares of Air Canada from C$45.00 to C$50.00 in a report on Tuesday, July 23rd. Morgan Stanley set a C$46.00 target price on shares of Air Canada and gave the stock an overweight rating in a report on Friday, April 5th. JPMorgan Chase & Co. lifted their target price on shares of Air Canada from C$40.00 to C$42.00 in a report on Wednesday, May 8th. National Bank Financial lifted their target price on shares of Air Canada from C$52.00 to C$55.00 and gave the stock an outperform rating in a report on Wednesday. Finally, CIBC lifted their target price on shares of Air Canada from C$50.00 to C$53.00 in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of C$49.96.

Shares of TSE AC opened at C$45.41 on Wednesday. Air Canada has a 1 year low of C$22.57 and a 1 year high of C$47.43. The stock has a market cap of $12.64 billion and a PE ratio of 17.60. The company’s 50-day simple moving average is C$41.86. The company has a debt-to-equity ratio of 294.80, a quick ratio of 0.85 and a current ratio of 0.93.

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 consensus estimate of C($0.18) by C$0.24. The firm had revenue of C$4.45 billion during the quarter, compared to analysts’ expectations of C$4.38 billion. On average, research analysts anticipate that Air Canada will post 4.83 earnings per share for the current year.

In other news, Senior Officer Pierre Houle sold 1,955 shares of Air Canada stock in a transaction that occurred on Wednesday, May 8th. The shares were 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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