Air Canada (TSE:AC) Price Target Raised to C$50.00

Air Canada (TSE:AC) had its price target raised by Canaccord Genuity from C$45.00 to C$50.00 in a report released on Tuesday, BayStreet.CA reports.

Several other equities analysts also recently issued reports on AC. TD Securities cut their price objective on Transcontinental from C$25.00 to C$22.00 and set a buy rating for the company in a research report on Friday, June 7th. Raymond James cut their price objective on Adaptimmune Therapeutics from $16.00 to $6.00 and set an outperform rating for the company in a research report on Tuesday, May 7th. Royal Bank of Canada reiterated a hold rating and issued a $0.35 price objective on shares of DB Commodity Double Short ETN in a research report on Friday, July 12th. Cowen reiterated a buy rating and issued a $258.00 price objective on shares of Canadian Pacific Railway in a research report on Tuesday, July 16th. Finally, CIBC reiterated a hold rating and issued a $2.50 price objective on shares of Advantage Oil & Gas in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of C$46.73.

Air Canada stock opened at C$44.07 on Tuesday. The company has a debt-to-equity ratio of 294.80, a current ratio of 0.93 and a quick ratio of 0.85. The company has a market cap of $12.05 billion and a P/E ratio of 17.08. Air Canada has a one year low of C$22.10 and a one year high of C$45.50. The stock’s 50 day moving average is C$41.10.

Air Canada (TSE:AC) last posted its earnings results on Monday, May 6th. The company reported C$0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C($0.18) by C$0.24. The company had revenue of C$4.45 billion for the quarter, compared to the consensus estimate of C$4.38 billion. On average, sell-side analysts anticipate that Air Canada will post 4.83 EPS for the current year.

In related news, Senior Officer Pierre Houle sold 1,955 shares of Air Canada stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of C$35.81, for a total transaction of C$70,009.53.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand name 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.

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Analyst Recommendations for Air Canada (TSE:AC)

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