Air Canada (TSE:AC) Given New C$32.00 Price Target at ATB Cormark Capital Markets

Air Canada (TSE:AC) had its price objective decreased by equities researchers at ATB Cormark Capital Markets from C$33.00 to C$32.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 77.68% from the stock’s current price.

AC has been the topic of several other reports. Jefferies Financial Group boosted their target price on Air Canada from C$17.00 to C$19.00 in a research note on Tuesday, March 31st. Raymond James Financial lowered shares of Air Canada from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 17th. Canaccord Genuity Group cut shares of Air Canada from a “buy” rating to a “hold” rating and dropped their price objective for the stock from C$28.00 to C$21.00 in a research note on Friday, March 13th. National Bank Financial dropped their target price on Air Canada from C$25.00 to C$22.00 in a research report on Thursday, April 2nd. Finally, Canadian Imperial Bank of Commerce dropped their price target on shares of Air Canada from C$25.00 to C$22.00 in a research note on Wednesday, April 8th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$23.50.

Air Canada Stock Down 0.2%

AC stock traded down C$0.03 during trading on Wednesday, hitting C$18.01. 2,646,411 shares of the company’s stock traded hands, compared to its average volume of 3,064,170. The firm has a market capitalization of C$5.30 billion, a P/E ratio of 9.68, a PEG ratio of 0.02 and a beta of 1.56. The business has a fifty day simple moving average of C$18.62 and a two-hundred day simple moving average of C$18.90. The company has a quick ratio of 1.06, a current ratio of 0.56 and a debt-to-equity ratio of 446.78. Air Canada has a 1 year low of C$13.73 and a 1 year high of C$23.72.

About Air Canada

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.