Air Canada (TSE:AC) Price Target Raised to C$27.00 at Scotiabank

Air Canada (TSE:AC) had its price target lifted by Scotiabank from C$26.50 to C$27.00 in a research note published on Tuesday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Royal Bank Of Canada set a C$25.00 target price on shares of Air Canada and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. UBS Group upgraded Air Canada to a “hold” rating in a research report on Tuesday, November 18th. Canadian Imperial Bank of Commerce raised their price objective on Air Canada from C$23.00 to C$24.00 in a research note on Wednesday, January 21st. Finally, National Bank Financial increased their price objective on shares of Air Canada from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Air Canada currently has an average rating of “Moderate Buy” and a consensus price target of C$24.85.

Air Canada Price Performance

TSE AC opened at C$20.53 on Tuesday. The company has a 50 day simple moving average of C$19.52 and a 200-day simple moving average of C$19.00. Air Canada has a 52-week low of C$12.69 and a 52-week high of C$23.72. The firm has a market capitalization of C$6.05 billion, a price-to-earnings ratio of 11.04, a price-to-earnings-growth ratio of 0.02 and a beta of 1.59. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06.

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.