Air Canada’s (TSE:AC) Outperform Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reiterated their outperform rating on shares of Air Canada (TSE:AC) in a research note issued to investors on Wednesday morning. They currently have a C$28.00 target price on the stock.
A number of other research analysts have also recently commented on the company. Royal Bank Of Canada raised their price target on Air Canada from C$18.00 to C$21.00 and gave the stock a top pick rating in a research report on Monday, May 8th. Raymond James Financial, Inc. raised their price target on Air Canada from C$12.50 to C$15.00 and gave the stock a market perform rating in a research report on Monday, May 8th. Scotiabank raised their price target on Air Canada from C$15.50 to C$16.25 and gave the stock a sector perform rating in a research report on Monday, May 8th. TD Securities raised their price target on Air Canada from C$21.00 to C$24.00 and gave the stock an action list buy rating in a research report on Tuesday, May 9th. Finally, Beacon Securities restated a buy rating on shares of Air Canada in a research report on Thursday, May 18th. Three investment 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 stock. The company has an average rating of Buy and a consensus target price of C$25.17.
Air Canada (TSE:AC) traded up 2.97% during mid-day trading on Wednesday, reaching $21.50. 3,281,850 shares of the company’s stock were exchanged. The company has a market cap of $5.83 billion and a PE ratio of 8.14. Air Canada has a 52-week low of $8.66 and a 52-week high of $21.75. The stock has a 50-day moving average price of $18.56 and a 200 day moving average price of $15.35.
In other Air Canada news, insider Michael Stewart Rousseau sold 40,000 shares of Air Canada stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of C$21.20, for a total value of C$848,000.00. Also, insider Arielle Meloul-Wechsler sold 7,064 shares of Air Canada stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of C$17.62, for a total value of C$124,467.68. In the last quarter, insiders sold 155,678 shares of company stock worth $2,921,401.
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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