Scotiabank Increases Air Canada (TSE:AC) Price Target to C$29.00

Air Canada (TSE:AC) had its price target increased by equities research analysts at Scotiabank from C$26.50 to C$29.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Scotiabank’s price target points to a potential upside of 33.52% from the stock’s previous close.

A number of other research firms also recently issued reports on AC. TD Cowen boosted their target price on shares of Air Canada to C$25.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Cormark boosted their price objective on Air Canada from C$21.75 to C$26.75 in a report on Monday, November 4th. Canaccord Genuity Group upped their target price on Air Canada from C$25.00 to C$29.00 in a research note on Monday, November 4th. Citigroup lifted their price target on Air Canada from C$21.00 to C$28.50 in a research report on Monday, November 18th. Finally, Jefferies Financial Group boosted their price target on Air Canada from C$18.00 to C$22.00 in a report on Tuesday, November 5th. Two equities 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$26.50.

Air Canada Stock Performance

AC opened at C$21.72 on Wednesday. The firm has a 50 day moving average of C$22.14 and a two-hundred day moving average of C$18.51. The firm has a market capitalization 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. 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 has a 12-month low of C$14.47 and a 12-month high of C$26.18.

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.