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

Air Canada (TSE:AC) had its price target lifted by investment analysts at TD Cowen to C$25.00 in a report issued on Wednesday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 10.72% from the company’s current price.

AC has been the subject of a number of other research reports. Cormark lifted their price target on Air Canada from C$21.75 to C$26.75 in a research report on Monday. Canaccord Genuity Group lifted their price target on Air Canada from C$25.00 to C$29.00 in a research report on Monday. National Bankshares lifted their price target on Air Canada from C$22.00 to C$27.00 in a research report on Monday. Stifel Nicolaus upgraded Air Canada from a “hold” rating to a “buy” rating and lifted their price target for the company from C$20.00 to C$25.50 in a research report on Monday. Finally, CIBC boosted their target price on Air Canada from C$25.00 to C$27.00 in a research note on Monday. Two 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, Air Canada has a consensus rating of “Moderate Buy” and a consensus target price of C$25.25.

Air Canada Price Performance

TSE AC traded up C$0.40 during trading hours on Wednesday, hitting C$22.58. The company had a trading volume of 324,862 shares, compared to its average volume of 2,344,982. Air Canada has a 52 week low of C$14.47 and a 52 week high of C$22.64. The firm has a 50 day simple moving average of C$16.97 and a 200 day simple moving average of C$17.42. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85. The firm has a market capitalization of C$8.09 billion, a price-to-earnings ratio of 5.04, a PEG ratio of 0.02 and a beta of 2.39.

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

Insider Activity at Air Canada

In other news, Senior Officer Christophe Hennebelle acquired 1,900 shares of Air Canada stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average price of C$15.70 per share, for a total transaction of C$29,830.00. 0.14% of the stock is owned by company insiders.

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.