ATB Capital Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its target price increased by research analysts at ATB Capital from C$28.00 to C$31.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Capital’s price target would suggest a potential upside of 42.73% from the company’s previous close.

A number of other research firms have also commented on AC. Canaccord Genuity Group lifted their price objective on shares of Air Canada from C$25.00 to C$29.00 in a research note on Monday, November 4th. BMO Capital Markets boosted their price target on Air Canada from C$29.00 to C$31.00 in a research report on Wednesday. TD Cowen increased their price objective on Air Canada to C$25.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a report on Sunday, November 3rd. Finally, National Bankshares upped their price target on Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$26.50.

Air Canada Stock Performance

Shares of AC opened at C$21.72 on Wednesday. The company’s 50 day simple moving average is C$22.14 and its 200-day simple moving average is C$18.51. The firm has a market cap of C$7.79 billion, a PE ratio of 4.85, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a 12-month low of C$14.47 and a 12-month high of C$26.18. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names 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.