CIBC Raises Air Canada (AC) Price Target to C$38.00
Air Canada (TSE:AC) had its price target hoisted by equities researchers at CIBC from C$36.00 to C$38.00 in a research report issued to clients and investors on Thursday. CIBC’s target price would suggest a potential upside of 49.78% from the company’s current price.
A number of other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a C$29.00 price target on shares of Air Canada in a report on Monday, November 13th. BMO Capital Markets lowered their price target on shares of Air Canada to C$34.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. TD Securities raised their price target on shares of Air Canada from C$34.00 to C$36.00 and gave the company an “action list buy” rating in a report on Thursday, October 26th. Royal Bank of Canada lowered their price target on shares of Air Canada from C$33.00 to C$31.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. Finally, Scotiabank increased their price objective on shares of Air Canada from C$28.50 to C$30.00 and gave the company a “sector perform” rating in a research report on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of C$31.05.
Air Canada (AC) traded down C$0.82 during trading hours on Thursday, hitting C$25.37. 2,146,177 shares of the stock were exchanged, compared to its average volume of 1,562,012. Air Canada has a twelve month low of C$12.49 and a twelve month high of C$28.70. The company has a market cap of $6,900.00, a PE ratio of 3.76 and a beta of 1.18.
In other Air Canada news, insider Duncan Bureau sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of C$23.58, for a total transaction of C$47,160.00. Also, Director Benjamin M. Smith sold 30,669 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of C$22.01, for a total transaction of C$675,024.69. Insiders sold a total of 48,544 shares of company stock valued at $1,125,897 over the last ninety days.
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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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