JPMorgan Chase & Co. Lowers Air Canada (TSE:AC) Price Target to C$23.00

Air Canada (TSE:AC) had its price objective reduced by JPMorgan Chase & Co. from C$27.00 to C$23.00 in a report issued on Monday,BayStreet.CA reports. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 24.46% from the company’s current price.

Other equities analysts have also issued research reports about the stock. ATB Cormark Capital Markets dropped their price target on shares of Air Canada from C$33.00 to C$32.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 29th. National Bank Financial dropped their price target on shares of Air Canada from C$25.00 to C$22.00 in a research report on Thursday, April 2nd. Raymond James Financial lowered shares of Air Canada from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Stifel Nicolaus dropped their price target on shares of Air Canada from C$28.00 to C$25.50 and set a “buy” rating on the stock in a research report on Tuesday, April 28th. Finally, Canaccord Genuity Group dropped their price target on shares of Air Canada from C$21.00 to C$20.00 and set a “hold” rating on the stock in a research report on Monday. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Air Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of C$23.39.

Air Canada Stock Performance

Shares of TSE:AC traded up C$0.22 during trading on Monday, reaching C$18.48. The stock had a trading volume of 2,355,762 shares, compared to its average volume of 3,098,683. Air Canada has a 52 week low of C$14.55 and a 52 week high of C$23.72. The firm has a market capitalization of C$5.44 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 0.02 and a beta of 1.63. The company has a quick ratio of 1.06, a current ratio of 0.60 and a debt-to-equity ratio of 452.24. The stock has a fifty day simple moving average of C$18.51 and a two-hundred day simple moving average of C$18.91.

About Air Canada

Air Canada is Canada’s largest airline, generally serving nearly 50 million passengers each year together with its regional partners. Air Canada is a sixth freedom airline, similar to Gulf carriers, which flies many U.S. nationals on long-haul trips with a layover in Canada. In 2019, the company generated CAD 19 billion in total revenue.