Air Canada (AC) Price Target Increased to C$25.00 by Analysts at Royal Bank of Canada

Air Canada (TSE:AC) had its price target hoisted by Royal Bank of Canada from C$21.00 to C$25.00 in a research note published on Friday. They currently have a top pick rating on the stock.

A number of other analysts have also recently weighed in on the company. National Bank Financial raised their price target on Air Canada from C$18.50 to C$20.00 in a research note on Thursday, June 29th. Canaccord Genuity raised their price target on Air Canada from C$18.00 to C$21.00 and gave the company a buy rating in a research note on Wednesday, June 14th. CIBC raised their price target on Air Canada from C$19.50 to C$20.50 and gave the company an outperform rating in a research note on Tuesday, June 20th. Beacon Securities restated a buy rating on shares of Air Canada in a research note on Thursday, May 18th. Finally, Scotiabank raised their price target on Air Canada from C$15.50 to C$16.25 and gave the company a sector perform rating in a research note on Monday, May 8th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Air Canada has an average rating of Buy and an average target price of C$20.83.

Air Canada (TSE AC) traded up 2.68% during trading on Friday, reaching $20.28. The company had a trading volume of 1,095,486 shares. Air Canada has a 52 week low of $8.66 and a 52 week high of $20.32. The firm has a market capitalization of $5.50 billion and a price-to-earnings ratio of 7.68. The company’s 50-day moving average is $17.26 and its 200 day moving average is $14.51.

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In other news, insider Michael Stewart Rousseau sold 34,992 shares of Air Canada stock in a transaction dated Friday, June 9th. The stock was sold at an average price of C$18.00, for a total transaction of C$629,856.00. Also, insider James Anthony Tabor sold 2,037 shares of Air Canada stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of C$17.95, for a total value of C$36,564.15. Over the last 90 days, insiders sold 115,678 shares of company stock worth $2,073,401.

About Air Canada

Air Canada is a domestic, United States transborder and international airline company. The Company is a provider of scheduled passenger services in the Canadian market, the Canada-United States transborder market and in the international market to and from Canada. Its mainline operates a fleet of approximately 170 aircraft, including Airbus narrow-body aircraft, over 70 Boeing and Airbus wide-body aircraft, and approximately Embraer 190 regional jets.

Analyst Recommendations for Air Canada (TSE:AC)

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