Air Canada (AC) Upgraded by Royal Bank Of Canada to “Top Pick”
Royal Bank Of Canada upgraded shares of Air Canada (TSE:AC) from an outperform rating to a top pick rating in a research note released on Thursday. They currently have C$18.00 target price on the stock, up from their previous target price of C$14.00.
Several other research analysts also recently weighed in on AC. TD Securities restated an action list buy rating and set a C$21.00 price target on shares of Air Canada in a research report on Monday, June 20th. Canaccord Genuity assumed coverage on shares of Air Canada in a report on Tuesday, June 28th. They issued a buy rating and a C$13.00 price objective for the company. National Bank Financial cut their price objective on shares of Air Canada from C$13.50 to C$13.00 in a report on Tuesday, June 28th. Macquarie cut their price objective on shares of Air Canada from C$10.00 to C$9.00 in a report on Friday, July 22nd. Finally, CIBC increased their price objective on shares of Air Canada from C$12.25 to C$14.00 in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. Air Canada currently has an average rating of Buy and a consensus price target of C$15.06.
Shares of Air Canada (TSE:AC) traded down 2.71% during mid-day trading on Thursday, hitting $12.19. The company had a trading volume of 1,393,444 shares. Air Canada has a 52-week low of $6.81 and a 52-week high of $12.70. The firm has a 50-day moving average price of $9.56 and a 200 day moving average price of $9.24. The firm has a market capitalization of $3.37 billion and a price-to-earnings ratio of 5.85.
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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