Air Canada (AC) Raised to Top Pick at RBC Capital Markets
Air Canada (TSE:AC) was upgraded by RBC Capital Markets from an “outperform” rating to a “top pick” rating in a research note issued to investors on Thursday. The firm presently has a C$18.00 target price on the stock, up from their previous target price of C$14.00. RBC Capital Markets’ target price points to a potential upside of 51.52% from the company’s previous close.
Several other equities research analysts have also weighed in on the company. TD Securities raised their price objective on Air Canada from C$22.00 to C$23.00 and gave the stock an “action list buy” rating in a research note on Tuesday, September 27th. Canaccord Genuity raised their price objective on Air Canada from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research note on Monday. BMO Capital Markets raised their price objective on Air Canada from C$13.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank Of Canada raised Air Canada from an “outperform” rating to a “top pick” rating and raised their price objective for the stock from C$14.00 to C$18.00 in a research note on Thursday. Finally, Macquarie reduced their price objective on Air Canada from C$10.00 to C$9.00 in a research note on Friday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of C$15.05.
Air Canada (TSE:AC) traded up 4.21% during mid-day trading on Thursday, hitting $12.38. The company had a trading volume of 3,368,833 shares. The stock’s 50 day moving average price is $9.46 and its 200 day moving average price is $9.22. Air Canada has a 52-week low of $6.81 and a 52-week high of $12.39. The firm has a market cap of $3.42 billion and a P/E ratio of 5.95.
About Air Canada
Air Canada is a domestic, United States transborder and international airline company. The Company is a provider of scheduled passenger services in the Canadian market, the Canada-United States transborder market and in the international market to and from Canada. The Company’s mainline operates a fleet of over 170 aircraft, including Airbus narrow-body aircraft, Boeing and Airbus wide-body aircraft, and Embraer 190 regional jets.
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