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Air Canada (TSE:AC – Get Free Report) had its price target decreased by equities researchers at CIBC from C$24.00 to C$22.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. CIBC’s price objective would suggest a potential upside of 23.73% from the company’s current price.
AC has been the subject of a number of other research reports. Canaccord Genuity Group decreased their target price on shares of Air Canada from C$28.00 to C$25.00 and set a “buy” rating for the company in a research report on Thursday. National Bankshares cut Air Canada from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from C$26.00 to C$22.00 in a research report on Wednesday. Stifel Nicolaus cut their price objective on Air Canada from C$25.00 to C$24.00 and set a “buy” rating for the company in a report on Friday. Royal Bank Of Canada lowered their target price on Air Canada from C$27.00 to C$25.00 and set an “outperform” rating on the stock in a report on Wednesday, August 20th. Finally, Scotiabank cut their price target on shares of Air Canada from C$27.00 to C$26.00 and set an “outperform” rating for the company in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$24.91.
Read Our Latest Stock Analysis on AC
Air Canada Stock Performance
Shares of TSE AC opened at C$17.78 on Friday. Air Canada has a 12-month low of C$12.69 and a 12-month high of C$26.18. The company has a market cap of C$5.27 billion, a PE ratio of 4.50, a P/E/G ratio of 0.02 and a beta of 1.73. The stock has a 50 day simple moving average of C$19.46 and a 200-day simple moving average of C$18.05. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00.
About Air Canada
Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.
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