Air Canada (AC) Price Target Raised to C$48.00 at CIBC

Air Canada (TSE:AC) had its price objective upped by CIBC from C$46.00 to C$48.00 in a report published on Tuesday, May 7th, BayStreet.CA reports.

Several other analysts have also recently issued reports on the company. National Bank Financial upped their price objective on Air Canada from C$32.00 to C$37.00 and gave the company an outperform rating in a research note on Friday, January 11th. Cormark restated a buy rating and set a C$47.00 price objective on shares of Air Canada in a research note on Tuesday, March 19th. Royal Bank of Canada upped their price objective on Air Canada from C$35.00 to C$36.00 in a research note on Monday, January 14th. TD Securities increased their price target on Air Canada from C$45.00 to C$46.00 in a research report on Wednesday, February 20th. Finally, Canaccord Genuity increased their price target on Air Canada from C$40.00 to C$45.00 in a research report on Monday, March 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of C$44.45.

Shares of TSE:AC traded down C$0.16 during trading on Tuesday, hitting C$40.35. The company’s stock had a trading volume of 764,069 shares, compared to its average volume of 1,230,833. The company has a debt-to-equity ratio of 164.94, a quick ratio of 1.08 and a current ratio of 1.24. Air Canada has a fifty-two week low of C$20.33 and a fifty-two week high of C$41.47. The stock has a market cap of $11.22 billion and a price-to-earnings ratio of 67.25.

In related news, Senior Officer Pierre Houle sold 1,955 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was 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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