Air Canada (TSE:AC) Upgraded at Scotiabank

Air Canada (TSE:AC) was upgraded by stock analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a C$33.50 price objective on the stock, up from their prior price objective of C$26.00. Scotiabank’s price target would suggest a potential upside of 24.07% from the company’s current price.

A number of other equities analysts have also recently issued reports on AC. ATB Cormark Capital Markets cut their price objective 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. Stifel Nicolaus upped their price target on Air Canada from C$25.50 to C$30.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Canaccord Genuity Group increased their price target on Air Canada from C$20.00 to C$26.00 and gave the stock a “hold” rating in a report on Monday, July 6th. TD decreased their price objective on Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Finally, JPMorgan Chase & Co. lowered their target price on Air Canada from C$27.00 to C$23.00 in a research report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$26.29.

Air Canada Trading Up 4.9%

AC traded up C$1.25 during trading on Tuesday, hitting C$27.00. The company’s stock had a trading volume of 2,957,600 shares, compared to its average volume of 2,912,637. The firm has a market capitalization of C$7.75 billion, a P/E ratio of 11.16, a PEG ratio of 0.02 and a beta of 2.02. Air Canada has a twelve month low of C$16.45 and a twelve month high of C$27.08. The stock’s fifty day moving average price is C$23.82 and its 200-day moving average price is C$20.83. The company has a quick ratio of 1.05, a current ratio of 0.60 and a debt-to-equity ratio of 452.24.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.