Air Canada (TSE:AC) Given New C$22.00 Price Target at CIBC

Air Canada (TSE:AC) had its price target lowered by CIBC from C$24.00 to C$22.00 in a research note issued to investors on Friday,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus dropped their price objective on shares of Air Canada from C$25.00 to C$24.00 and set a “buy” rating for the company in a research note on Friday. Citigroup set a C$25.00 price target on Air Canada and gave the company a “buy” rating in a research note on Monday, June 30th. Royal Bank Of Canada reduced their price objective on Air Canada from C$27.00 to C$25.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 20th. National Bank Financial cut Air Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Raymond James Financial boosted their price target on Air Canada from C$24.00 to C$27.00 and gave the stock a “moderate buy” rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Air Canada has an average rating of “Moderate Buy” and an average target price of C$24.91.

Air Canada Price Performance

AC stock opened at C$17.78 on Friday. The company’s 50-day moving average price is C$19.46 and its two-hundred day moving average price is C$18.03. The firm has a market cap of C$5.27 billion, a P/E ratio of 4.50, a P/E/G ratio of 0.02 and a beta of 1.73. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00. Air Canada has a 12 month low of C$12.69 and a 12 month high of C$26.18.

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.