Air Canada (AC) Upgraded by RBC Capital Markets to “Top Pick”
RBC Capital Markets upgraded shares of Air Canada (TSE:AC) from an outperform rating to a top pick rating in a report released on Thursday. RBC Capital Markets currently has C$18.00 price objective on the stock, up from their prior price objective of C$14.00.
Several other research analysts have also recently weighed in on the company. Royal Bank Of Canada raised Air Canada from an outperform rating to a top pick rating and boosted their price objective for the stock from C$14.00 to C$18.00 in a research report on Thursday. BMO Capital Markets upped their price target on Air Canada from C$13.00 to C$15.00 and gave the company an outperform rating in a research report on Wednesday. Canaccord Genuity upped their price target on Air Canada from C$13.00 to C$14.00 and gave the company a buy rating in a research report on Monday. CSFB reaffirmed an outperform rating on shares of Air Canada in a research report on Thursday, September 29th. Finally, TD Securities upped their price target on Air Canada from C$22.00 to C$23.00 and gave the company an action list buy rating in a research report on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of C$15.06.
Air Canada (TSE:AC) traded down 2.79% during mid-day trading on Thursday, reaching $12.18. The company had a trading volume of 1,329,404 shares. The stock has a 50 day moving average price of $9.56 and a 200-day moving average price of $9.24. The stock has a market capitalization of $3.36 billion and a P/E ratio of 5.85. Air Canada has a 12-month low of $6.81 and a 12-month high of $12.70.
About Air Canada
Air Canada is a domestic, United States transborder and international airline company. The Company is a provider of scheduled passenger services in the Canadian market, the Canada-United States transborder market and in the international market to and from Canada. The Company’s mainline operates a fleet of over 170 aircraft, including Airbus narrow-body aircraft, Boeing and Airbus wide-body aircraft, and Embraer 190 regional jets.
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