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

Air Canada (TSE:AC) had its price objective boosted by research analysts at Cormark from C$26.75 to C$29.50 in a research report issued on Wednesday,BayStreet.CA reports. Cormark’s target price would suggest a potential upside of 35.82% from the company’s current price.

A number of other research analysts also recently weighed in on the company. TD Cowen increased their target price on Air Canada to C$25.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. National Bankshares increased their price objective on shares of Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. Scotiabank boosted their target price on shares of Air Canada from C$26.50 to C$29.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup increased their price target on shares of Air Canada from C$21.00 to C$28.50 in a research report on Monday, November 18th. Finally, Canaccord Genuity Group boosted their price objective on shares of Air Canada from C$25.00 to C$29.00 in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of C$26.50.

Air Canada Price Performance

Shares of AC opened at C$21.72 on Wednesday. The firm has a market cap of C$7.79 billion, a PE ratio of 4.85, a P/E/G ratio of 0.02 and a beta of 2.39. Air Canada has a 1-year low of C$14.47 and a 1-year 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. The firm has a fifty day simple moving average of C$22.14 and a two-hundred day simple moving average of C$18.51.

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.