CIBC Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its target price boosted by equities research analysts at CIBC from C$23.00 to C$24.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s target price points to a potential upside of 23.71% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank raised their price objective on shares of Air Canada from C$25.00 to C$26.50 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities dropped their price target on shares of Air Canada from C$25.00 to C$22.00 in a research report on Friday, September 26th. Stifel Nicolaus decreased their price objective on shares of Air Canada from C$25.00 to C$24.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Royal Bank Of Canada set a C$25.00 target price on shares of Air Canada and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Finally, BMO Capital Markets reduced their price target on Air Canada from C$28.00 to C$27.00 in a report on Thursday, October 9th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Air Canada currently has a consensus rating of “Moderate Buy” and an average price target of C$24.42.

Air Canada Stock Performance

TSE:AC traded up C$0.65 during mid-day trading on Wednesday, hitting C$19.40. The company’s stock had a trading volume of 2,251,156 shares, compared to its average volume of 2,292,581. The business’s fifty day moving average is C$19.05 and its two-hundred day moving average is C$19.23. The stock has a market cap of C$5.75 billion, a price-to-earnings ratio of -28.12, a PEG ratio of 0.02 and a beta of 1.75. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06. Air Canada has a 1 year low of C$12.69 and a 1 year high of C$23.72.

Air Canada (TSE:AC) last issued its earnings results on Tuesday, November 4th. The company reported C$0.75 EPS for the quarter. The firm had revenue of C$5.77 billion for the quarter. Air Canada had a return on equity of 177.01% and a net margin of 11.57%. Analysts anticipate that Air Canada will post 2.5789474 EPS for the current fiscal year.

Air Canada Company Profile

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.