TD Cowen Increases Air Canada (TSE:AC) Price Target to C$25.00

Air Canada (TSE:AC) had its target price increased by stock analysts at TD Cowen to C$25.00 in a research report issued on Wednesday, Stock Target Advisor reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 8.04% from the stock’s current price.

AC has been the subject of several other research reports. Citigroup increased their price objective on Air Canada from C$20.00 to C$21.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus raised Air Canada from a “hold” rating to a “buy” rating and increased their price objective for the company from C$20.00 to C$25.50 in a report on Monday. Jefferies Financial Group increased their price objective on Air Canada from C$18.00 to C$22.00 in a report on Tuesday. Royal Bank of Canada cut their price objective on Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Air Canada from C$32.00 to C$34.00 in a report on Monday. Two research 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$25.25.

Air Canada Price Performance

Shares of AC opened at C$23.14 on Wednesday. The stock has a market capitalization of C$8.30 billion, a P/E ratio of 5.17, a P/E/G ratio of 0.02 and a beta of 2.39. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$23.70. The company has a 50 day moving average of C$17.12 and a 200-day moving average of C$17.45. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99.

Air Canada (TSE:AC) last issued its quarterly earnings results on Wednesday, August 7th. The company reported C$0.98 earnings per share for the quarter, topping the consensus estimate of C$0.85 by C$0.13. The company had revenue of C$5.52 billion during the quarter, compared to analysts’ expectations of C$5.55 billion. Air Canada had a net margin of 7.92% and a return on equity of 603.77%. As a group, equities research analysts forecast that Air Canada will post 2.5789474 EPS for the current fiscal year.

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.