National Bank Financial Cuts Air Canada (TSE:AC) Price Target to C$22.00

Air Canada (TSE:AC) had its price target reduced by National Bank Financial from C$25.00 to C$22.00 in a research note published on Thursday,BayStreet.CA reports.

A number of other equities analysts also recently issued reports on the company. Canaccord Genuity Group downgraded Air Canada from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$28.00 to C$21.00 in a research report on Friday, March 13th. BMO Capital Markets cut their price objective on Air Canada from C$27.00 to C$26.00 in a research report on Tuesday, March 31st. Stifel Nicolaus upped their target price on Air Canada from C$24.00 to C$28.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. Raymond James Financial lowered Air Canada from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, February 17th. Finally, Scotiabank cut shares of Air Canada from an “outperform” rating to a “hold” rating and dropped their price target for the company from C$27.00 to C$21.00 in a research note on Tuesday, March 10th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$24.33.

Air Canada Stock Performance

AC stock opened at C$17.86 on Thursday. Air Canada has a 52-week low of C$12.69 and a 52-week high of C$23.72. The company has a quick ratio of 1.06, a current ratio of 0.56 and a debt-to-equity ratio of 446.78. The firm has a market cap of C$5.26 billion, a P/E ratio of 9.60, a PEG ratio of 0.02 and a beta of 1.56. The company’s 50-day simple moving average is C$19.07 and its 200-day simple moving average is C$18.86.

Air Canada Company Profile

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.