Scotiabank Boosts Air Canada (TSE:AC) Price Target to C$27.00

Air Canada (TSE:AC) had its price target upped by Scotiabank from C$26.50 to C$27.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 32.35% from the company’s previous close.

AC has been the topic of a number of other reports. Royal Bank Of Canada set a C$25.00 price target on shares of Air Canada and gave the stock an “outperform” rating in a research report on Tuesday, November 25th. National Bank Financial lifted their price objective on Air Canada from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce upped their target price on Air Canada from C$23.00 to C$24.00 in a report on Wednesday, January 21st. Finally, UBS Group upgraded Air Canada to a “hold” rating in a report on Tuesday, November 18th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of C$24.85.

Air Canada Price Performance

Shares of Air Canada stock traded up C$0.15 during mid-day trading on Tuesday, reaching C$20.40. 1,708,528 shares of the stock traded hands, compared to its average volume of 2,568,620. The stock has a market capitalization of C$6.01 billion, a PE ratio of 10.97, a PEG ratio of 0.02 and a beta of 1.59. The business has a 50-day moving average of C$19.49 and a 200 day moving average of C$18.99. Air Canada has a fifty-two week low of C$12.69 and a fifty-two week high of C$23.72. The company has a quick ratio of 1.06, a current ratio of 0.92 and a debt-to-equity ratio of 400.00.

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.