Scotiabank Upgrades Air Canada (TSE:AC) to Sector Outperform

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 target price on the stock, up from their prior target price of C$26.00. Scotiabank’s price target indicates a potential upside of 24.07% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Royal Bank Of Canada upped their price objective on shares of Air Canada from C$22.00 to C$28.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Stifel Nicolaus raised their price objective on shares of Air Canada from C$25.50 to C$30.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. National Bank Financial upgraded shares of Air Canada from a “hold” rating to an “outperform” rating and lifted their price objective for the company from C$22.00 to C$29.00 in a research note on Tuesday, July 7th. TD lowered their target price on shares of Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Finally, BMO Capital Markets increased their target price on Air Canada from C$26.00 to C$30.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Air Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$26.29.

Air Canada Stock Performance

Shares of AC stock traded up C$1.25 on Tuesday, hitting C$27.00. 2,957,600 shares of the stock were exchanged, compared to its average volume of 2,912,637. The firm’s 50 day moving average is C$23.82 and its two-hundred day moving average is C$20.83. Air Canada has a one year low of C$16.45 and a one year high of C$27.08. The firm has a market capitalization of C$7.75 billion, a PE ratio of 11.16, a P/E/G ratio of 0.02 and a beta of 2.02. The company has a current ratio of 0.60, a quick ratio of 1.05 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.