Air Canada (AC) Upgraded at Cowen and Company
Cowen and Company upgraded shares of Air Canada (TSE:AC) from a market perform rating to an outperform rating in a research report report published on Wednesday, StockTargetPrices.com reports. Cowen and Company currently has C$40.00 target price on the stock, up from their previous target price of C$23.00.
A number of other brokerages have also recently issued reports on AC. Canaccord Genuity boosted their target price on Air Canada from C$27.00 to C$31.00 and gave the stock a buy rating in a report on Wednesday. BMO Capital Markets restated an outperform rating and issued a C$34.00 price target on shares of Air Canada in a report on Wednesday. CIBC upped their price target on Air Canada from C$23.00 to C$27.00 in a report on Wednesday, August 2nd. TD Securities upped their price target on Air Canada from C$25.00 to C$34.00 and gave the stock an action list buy rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada upped their price target on Air Canada from C$25.00 to C$26.00 and gave the stock a top pick rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of C$28.30.
Shares of Air Canada (TSE:AC) opened at 27.51 on Wednesday. The firm has a market cap of $7.47 billion and a PE ratio of 9.01. The company has a 50-day moving average of $21.96 and a 200 day moving average of $17.12. Air Canada has a one year low of $9.13 and a one year high of $27.68.
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In other news, insider Michael Stewart Rousseau sold 40,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of C$21.20, for a total transaction of C$848,000.00. Also, insider Lucie Guillemette sold 1,941 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of C$23.18, for a total value of C$44,992.38. In the last 90 days, insiders sold 1,001,939 shares of company stock valued at $20,827,620.
Air Canada Company Profile
Air Canada provides the U.S. transbonder and international airline services. The company offers scheduled passenger services under the Air Canada Express brand name in the Canadian market, the Canada-U.S. transbonder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.
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