Scotiabank Lowers Air Canada (TSE:AC) Price Target to C$21.00

Air Canada (TSE:AC) had its target price dropped by investment analysts at Scotiabank from C$27.00 to C$21.00 in a research note issued on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 30.03% from the stock’s current price.

A number of other brokerages have also recently issued reports on AC. Royal Bank of Canada cut their target price on shares of Air Canada from C$18.00 to C$17.00 and set a “sector perform” rating on the stock in a report on Tuesday. Cormark dropped their price target on shares of Air Canada from C$25.50 to C$21.25 in a research note on Tuesday. CIBC lowered their price objective on shares of Air Canada from C$28.00 to C$25.00 and set an “outperform” rating on the stock in a research note on Tuesday. BMO Capital Markets decreased their price target on shares of Air Canada from C$33.00 to C$28.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group decreased their price target on shares of Air Canada from C$20.00 to C$19.00 in a research report on Thursday, June 20th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Air Canada has an average rating of “Moderate Buy” and a consensus price target of C$25.52.

Air Canada Stock Up 0.7 %

Shares of TSE AC opened at C$16.15 on Wednesday. Air Canada has a 12-month low of C$15.93 and a 12-month high of C$24.94. The company has a market cap of C$5.79 billion, a P/E ratio of 2.80, a P/E/G ratio of 0.02 and a beta of 2.40. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,767.66. The stock has a fifty day moving average price of C$17.57 and a 200 day moving average price of C$18.37.

Air Canada (TSE:AC) last announced its earnings results on Thursday, May 2nd. The company reported C($0.27) earnings per share for the quarter, missing the consensus estimate of C($0.15) by C($0.12). The firm had revenue of C$5.23 billion during the quarter, compared to the consensus estimate of C$5.13 billion. Research analysts anticipate that Air Canada will post 3.1906412 EPS for the current fiscal year.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.