Air Canada (TSE:AC) Price Target Cut to C$22.00 by Analysts at National Bank Financial

Air Canada (TSE:AC) had its price target cut by equities researchers at National Bank Financial from C$25.00 to C$22.00 in a research note issued on Thursday,BayStreet.CA reports. National Bank Financial’s price objective indicates a potential upside of 22.84% from the company’s current price.

Several other analysts have also issued reports on AC. Canadian Imperial Bank of Commerce raised their price target on shares of Air Canada from C$23.00 to C$24.00 in a research report on Wednesday, January 21st. Canaccord Genuity Group cut shares of Air Canada from a “buy” rating to a “hold” rating and reduced their target price for the company from C$28.00 to C$21.00 in a research note on Friday, March 13th. Scotiabank downgraded Air Canada from an “outperform” rating to a “hold” rating and decreased their target price for the stock from C$27.00 to C$21.00 in a research report on Tuesday, March 10th. Stifel Nicolaus boosted their price target on Air Canada from C$24.00 to C$28.00 and gave the company a “buy” rating in a research note on Tuesday, February 17th. Finally, Raymond James Financial cut Air Canada from a “moderate buy” rating to a “hold” rating in a report on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$24.33.

Air Canada Stock Performance

AC stock traded down C$0.92 on Thursday, reaching C$17.91. 3,612,249 shares of the company were exchanged, compared to its average volume of 3,033,129. Air Canada has a 12 month low of C$12.69 and a 12 month high of C$23.72. The stock’s fifty day moving average price is C$19.13 and its 200 day moving average price is C$18.87. The firm has a market capitalization of C$5.28 billion, a PE ratio of 9.63, a PEG ratio of 0.02 and a beta of 1.56. The company has a debt-to-equity ratio of 446.78, a current ratio of 0.56 and a quick ratio of 1.06.

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.