Air Canada (TSE:AC) Given New C$37.00 Price Target at BMO Capital Markets

Air Canada (TSE:AC) had its price target increased by investment analysts at BMO Capital Markets from C$30.00 to C$37.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ target price would suggest a potential upside of 23.09% from the stock’s current price.

A number of other analysts have also issued reports on the stock. 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 decreased their target price on shares of Air Canada from C$23.00 to C$21.00 in a research note on Monday, April 20th. Scotiabank raised shares of Air Canada from a “hold” rating to a “sector outperform” rating and raised their price target for the company from C$26.00 to C$33.50 in a report on Tuesday. Canaccord Genuity Group lifted their price target on shares of Air Canada from C$20.00 to C$26.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Finally, Stifel Nicolaus boosted 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. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$26.88.

Air Canada Stock Up 10.2%

Shares of AC stock traded up C$2.79 during trading hours on Wednesday, reaching C$30.06. The company had a trading volume of 7,407,891 shares, compared to its average volume of 2,952,882. The company has a market capitalization of C$8.63 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 0.02 and a beta of 2.02. The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60. Air Canada has a twelve month low of C$16.45 and a twelve month high of C$31.45. The stock’s fifty day simple moving average is C$23.93 and its 200 day simple moving average is C$20.89.

Air Canada (TSE:AC) last released its quarterly earnings results on Tuesday, August 11th. The company reported C$0.40 EPS for the quarter. The firm had revenue of C$6.27 billion for the quarter. Air Canada had a return on equity of 34.23% and a net margin of 3.46%. As a group, sell-side analysts expect that Air Canada will post 2.5789474 earnings per share for the current fiscal year.

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.