Air Canada (TSE:AC) Stock Price Expected to Rise, ATB Capital Analyst Says

Air Canada (TSE:AC) had its price target increased by equities research analysts at ATB Capital from C$28.00 to C$31.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Capital’s price target indicates a potential upside of 42.73% from the company’s previous close.

Other analysts have also issued reports about the company. Stifel Canada raised Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 3rd. BMO Capital Markets boosted their target price on shares of Air Canada from C$29.00 to C$31.00 in a report on Wednesday. Scotiabank increased their price target on shares of Air Canada from C$24.00 to C$26.50 in a research note on Monday, November 4th. CIBC lifted their price target on shares of Air Canada from C$27.00 to C$28.00 in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price objective on Air Canada from C$32.00 to C$34.00 in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Air Canada currently has an average rating of “Moderate Buy” and an average price target of C$26.50.

Air Canada Price Performance

AC stock opened at C$21.72 on Wednesday. The stock has a market capitalization of C$7.79 billion, a price-to-earnings ratio of 4.85, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. The company has a quick ratio of 1.06, a current ratio of 0.85 and a debt-to-equity ratio of 1,070.99. Air Canada has a 52-week low of C$14.47 and a 52-week high of C$26.18. The stock’s fifty day simple moving average is C$22.14 and its 200-day simple moving average is C$18.51.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.