BMO Capital Markets Cuts Air Canada (TSE:AC) Price Target to C$26.00

Air Canada (TSE:AC) had its price objective reduced by BMO Capital Markets from C$27.00 to C$26.00 in a research note released on Tuesday morning,BayStreet.CA reports.

AC has been the subject of several other research reports. Stifel Nicolaus upped their target price on shares of Air Canada from C$24.00 to C$28.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Canaccord Genuity Group cut Air Canada from a “buy” rating to a “hold” rating and decreased their price target for the company from C$28.00 to C$21.00 in a report on Friday, March 13th. Canadian Imperial Bank of Commerce boosted their price objective on Air Canada from C$23.00 to C$24.00 in a research report on Wednesday, January 21st. National Bank Financial upped their price objective on Air Canada from C$24.00 to C$25.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Finally, Scotiabank cut Air Canada from an “outperform” rating to a “hold” rating and cut their target price for the stock from C$27.00 to C$21.00 in a research report on Tuesday, March 10th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$24.33.

Air Canada Stock Performance

Shares of TSE AC opened at C$17.86 on Tuesday. The firm has a fifty day moving average price of C$19.10 and a 200-day moving average price of C$18.87. The company has a debt-to-equity ratio of 446.78, a current ratio of 0.56 and a quick ratio of 1.06. The stock has a market cap of C$5.26 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 0.02 and a beta of 1.56. Air Canada has a 1 year low of C$12.69 and a 1 year high of C$23.72.

Air Canada Company Profile

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.