Scotiabank Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price objective raised by equities researchers at Scotiabank from C$26.50 to C$29.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 28.95% from the stock’s current price.

A number of other research analysts have also recently commented on the stock. Stifel Canada raised shares of Air Canada from a “hold” rating to a “strong-buy” rating in a research report on Sunday, November 3rd. Cormark boosted their target price on shares of Air Canada from C$21.75 to C$26.75 in a research report on Monday, November 4th. ATB Capital boosted their target price on shares of Air Canada from C$28.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Wednesday. Canaccord Genuity Group boosted their target price on shares of Air Canada from C$25.00 to C$29.00 in a research note on Monday, November 4th. Finally, BMO Capital Markets upped their price target on shares of Air Canada from C$29.00 to C$31.00 in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$26.50.

Air Canada Trading Down 0.4 %

AC traded down C$0.10 during trading on Wednesday, hitting C$22.49. 2,981,134 shares of the company’s stock were exchanged, compared to its average volume of 2,571,360. The stock has a 50 day moving average price of C$21.93 and a 200 day moving average price of C$18.46. Air Canada has a 1 year low of C$14.47 and a 1 year high of C$26.18. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. The firm has a market cap of C$8.06 billion, a P/E ratio of 5.02, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

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.