Air Canada (AC) Price Target Increased to C$22.50 by Analysts at Macquarie
Air Canada (TSE:AC) had its price target increased by analysts at Macquarie from C$18.00 to C$22.50 in a note issued to investors on Monday. The brokerage currently has a “neutral” rating on the stock. Macquarie’s target price would suggest a potential upside of 12.05% from the stock’s current price.
AC has been the topic of several other research reports. Canaccord Genuity lifted their target price on shares of Air Canada from C$21.00 to C$23.00 and gave the stock a “buy” rating in a research note on Friday, July 7th. Royal Bank Of Canada lifted their target price on shares of Air Canada from C$18.00 to C$21.00 and gave the stock a “top pick” rating in a research note on Monday, May 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a C$20.00 target price on shares of Air Canada in a research note on Friday, May 12th. Scotiabank lifted their target price on shares of Air Canada from C$15.50 to C$16.25 and gave the stock a “sector perform” rating in a research note on Monday, May 8th. Finally, Raymond James Financial, Inc. lifted their target price on shares of Air Canada from C$12.50 to C$15.00 and gave the stock a “market perform” rating in a research note on Monday, May 8th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Air Canada presently has a consensus rating of “Buy” and a consensus price target of C$21.44.
Air Canada (TSE AC) traded down 2.57% during midday trading on Monday, reaching $20.08. 1,185,941 shares of the company were exchanged. The firm’s 50 day moving average price is $17.26 and its 200-day moving average price is $14.51. The stock has a market capitalization of $5.44 billion and a P/E ratio of 7.60. Air Canada has a 52 week low of $8.66 and a 52 week high of $20.93.
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In other news, insider Michael Stewart Rousseau sold 34,992 shares of Air Canada stock in a transaction on Friday, June 9th. The stock was sold at an average price of C$18.00, for a total transaction of C$629,856.00. Also, insider Marcel Forget sold 5,000 shares of Air Canada stock in a transaction on Thursday, May 25th. The stock was sold at an average price of C$17.36, for a total value of C$86,800.00. In the last quarter, insiders have sold 115,678 shares of company stock worth $2,073,401.
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. Its mainline operates a fleet of approximately 170 aircraft, including Airbus narrow-body aircraft, over 70 Boeing and Airbus wide-body aircraft, and approximately Embraer 190 regional jets.
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