Air Canada (AC) PT Raised to C$31.00 at Royal Bank Of Canada
Air Canada (TSE:AC) had its target price increased by investment analysts at Royal Bank Of Canada from C$26.00 to C$31.00 in a report released on Wednesday. The firm presently has a “top pick” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 17.42% from the stock’s previous close.
Several other equities analysts also recently commented on the company. Cowen and Company upgraded Air Canada from a “market perform” rating to an “outperform” rating and increased their price target for the company from C$23.00 to C$40.00 in a report on Wednesday. Canaccord Genuity increased their price target on Air Canada from C$27.00 to C$31.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets reiterated an “outperform” rating and set a C$34.00 price target on shares of Air Canada in a report on Wednesday. TD Securities increased their price target on Air Canada from C$25.00 to C$34.00 and gave the company an “action list buy” rating in a report on Wednesday, August 2nd. Finally, Scotiabank increased their price target on Air Canada from C$20.50 to C$27.00 and gave the company a “sector perform” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of C$28.30.
Air Canada (AC) opened at 26.40 on Wednesday. The stock has a market capitalization of $7.17 billion and a price-to-earnings ratio of 8.65. The firm has a 50-day moving average of $21.96 and a 200 day moving average of $17.12. Air Canada has a 12-month low of $9.13 and a 12-month high of $26.48.
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In related news, insider Yves Dufresne sold 1,677 shares of Air Canada stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of C$22.15, for a total value of C$37,145.55. Also, Director Calin Rovinescu sold 925,481 shares of Air Canada stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of C$20.72, for a total value of C$19,175,966.32. Over the last three months, insiders have sold 1,001,939 shares of company stock valued at $20,827,620.
Air Canada Company Profile
Air Canada provides the U.S. transbonder and international airline services. The company offers scheduled passenger services under the Air Canada Express brand name in the Canadian market, the Canada-U.S. transbonder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.
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