Air Canada (TSE:AC) Price Target Raised to C$46.00

Air Canada (TSE:AC) had its price objective upped by analysts at Royal Bank of Canada from C$43.00 to C$46.00 in a note issued to investors on Tuesday, May 7th, BayStreet.CA reports. Royal Bank of Canada’s price objective indicates a potential upside of 15.29% from the company’s previous close.

AC has been the topic of a number of other reports. Canaccord Genuity upped their target price on Air Canada from C$33.00 to C$40.00 in a research report on Monday, January 28th. Cowen lowered their target price on Air Canada from C$34.00 to C$33.00 in a research report on Thursday, January 10th. TD Securities upped their target price on Air Canada from C$45.00 to C$46.00 in a research report on Wednesday, February 20th. CIBC increased their price target on Air Canada from C$42.00 to C$46.00 in a research report on Tuesday, February 19th. Finally, National Bank Financial increased their price target on Air Canada from C$32.00 to C$37.00 and gave the company an “outperform” rating in a research report on Friday, January 11th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of C$44.45.

Shares of Air Canada stock traded down C$0.45 on Tuesday, reaching C$39.90. 892,663 shares of the company’s stock were exchanged, compared to its average volume of 1,227,613. 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 52 week low of C$20.33 and a 52 week high of C$41.47. The stock has a market capitalization of $10.99 billion and a price-to-earnings ratio of 66.50.

In other 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.

Air Canada Company Profile

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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