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

Air Canada (TSE:AC) had its target price upped by equities research analysts at Cormark from C$26.75 to C$29.50 in a research note issued to investors on Wednesday,BayStreet.CA reports. Cormark’s target price points to a potential upside of 31.17% from the stock’s current price.

A number of other analysts have also issued reports on the stock. ATB Capital lifted their price target on shares of Air Canada from C$28.00 to C$31.00 and gave the stock an “outperform” rating in a research note on Wednesday. Stifel Canada upgraded shares of Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 3rd. CIBC lifted their price target on shares of Air Canada from C$27.00 to C$28.00 in a research note on Wednesday, December 4th. National Bankshares lifted their price target on shares of Air Canada from C$22.00 to C$27.00 in a research note on Monday, November 4th. Finally, Stifel Nicolaus upgraded shares of Air Canada from a “hold” rating to a “buy” rating and lifted their price target for the stock from C$20.00 to C$25.50 in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$26.50.

Air Canada Stock Down 0.4 %

Shares of TSE AC traded down C$0.10 during trading on Wednesday, reaching C$22.49. 2,981,134 shares of the stock were exchanged, compared to its average volume of 2,571,360. 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. The business’s 50-day moving average price is C$21.93 and its 200 day moving average price is C$18.46. The company has a market capitalization of C$8.06 billion, a price-to-earnings ratio of 5.02, a price-to-earnings-growth 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$26.18.

About Air Canada

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.