CIBC Raises Air Canada (TSE:AC) Price Target to C$28.00

Air Canada (TSE:AC) had its price objective increased by equities researchers at CIBC from C$27.00 to C$28.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 11.33% from the company’s previous close.

AC has been the topic of a number of other research reports. BMO Capital Markets upped their target price on shares of Air Canada from C$28.00 to C$29.00 in a report on Monday, November 4th. ATB Capital upped their price objective on shares of Air Canada from C$26.50 to C$28.00 in a report on Monday, November 4th. Stifel Canada upgraded shares of Air Canada from a “hold” rating to a “strong-buy” rating in a research note on Sunday, November 3rd. JPMorgan Chase & Co. increased their price target on shares of Air Canada from C$32.00 to C$34.00 in a research note on Monday, November 4th. Finally, TD Cowen increased their price objective on shares of Air Canada to C$25.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$25.82.

Air Canada Price Performance

Shares of Air Canada stock traded up C$0.25 on Wednesday, reaching C$25.15. 1,981,646 shares of the stock were exchanged, compared to its average volume of 2,485,376. Air Canada has a one year low of C$14.47 and a one year high of C$25.19. The firm’s 50 day moving average is C$20.18 and its 200-day moving average is C$18.03. The firm has a market cap of C$9.02 billion, a PE ratio of 5.61, a P/E/G ratio of 0.02 and a beta of 2.39. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85.

Air Canada Company Profile

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.