Royal Bank Of Canada Has Lowered Expectations for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its price objective cut by research analysts at Royal Bank Of Canada from C$27.00 to C$25.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 29.20% from the stock’s previous close.

A number of other equities analysts have also recently commented on AC. National Bankshares raised their target price on Air Canada from C$24.00 to C$26.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Stifel Nicolaus increased their price target on Air Canada from C$23.00 to C$25.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Citigroup set a C$25.00 price target on Air Canada and gave the stock a “buy” rating in a research note on Monday, June 30th. Canaccord Genuity Group increased their price target on Air Canada from C$27.00 to C$28.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial increased their price target on Air Canada from C$24.00 to C$27.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$25.63.

Air Canada Stock Performance

AC stock opened at C$19.35 on Wednesday. The stock has a market capitalization of C$6.90 billion, a PE ratio of 2.72, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a 12-month low of C$12.69 and a 12-month high of C$26.18. The company has a current ratio of 0.92, a quick ratio of 1.06 and a debt-to-equity ratio of 400.00. The stock’s 50 day simple moving average is C$20.36 and its 200 day simple moving average is C$17.71.

About Air Canada

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.