Air Canada (AC) PT Raised to C$23.00

Air Canada (TSE:AC) had its price target upped by equities researchers at CIBC from C$20.50 to C$23.00 in a report issued on Friday. CIBC’s price target suggests a potential upside of 12.91% from the company’s current price.

A number of other brokerages also recently commented on AC. Beacon Securities restated a “buy” rating on shares of Air Canada in a research note on Thursday, May 18th. National Bank Financial upped their target price on Air Canada from C$18.50 to C$20.00 in a research note on Thursday, June 29th. Raymond James Financial, Inc. upped their target price on Air Canada from C$12.50 to C$15.00 and gave the stock a “market perform” rating in a research note on Monday, May 8th. TD Securities upped their target price on Air Canada from C$21.00 to C$24.00 and gave the stock an “action list buy” rating in a research note on Tuesday, May 9th. Finally, Scotiabank upped their target price on Air Canada from C$15.50 to C$16.25 and gave the stock a “sector perform” rating in a research note on Monday, May 15th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of C$20.83.

Air Canada (TSE AC) opened at 20.37 on Friday. Air Canada has a 12 month low of $8.66 and a 12 month high of $20.39. The firm has a 50-day moving average price of $17.26 and a 200 day moving average price of $14.51. The stock has a market capitalization of $5.52 billion and a PE ratio of 7.71.

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In other Air Canada news, insider Michael Stewart Rousseau sold 34,992 shares of the stock in a transaction that occurred on 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 Marcel Forget sold 5,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of C$17.36, for a total value of C$86,800.00. Insiders have sold 115,678 shares of company stock worth $2,073,401 in the last quarter.

Air Canada Company Profile

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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