Air Canada (AC) Trading Up 3.5% After Analyst Upgrade

Shares of Air Canada (TSE:AC) were up 3.5% during mid-day trading on Thursday after TD Securities raised their price target on the stock from C$34.00 to C$36.00. TD Securities currently has an action list buy rating on the stock. Air Canada traded as high as C$27.18 and last traded at C$26.91. Approximately 1,575,809 shares were traded during trading, an increase of 13% from the average daily volume of 1,398,610 shares. The stock had previously closed at C$26.00.

AC has been the topic of a number of other research reports. Cowen and Company raised Air Canada from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from C$23.00 to C$40.00 in a report on Wednesday, September 20th. Canaccord Genuity increased their price objective on Air Canada from C$21.00 to C$23.00 and gave the stock a “buy” rating in a report on Friday, July 7th. National Bank Financial increased their price objective on Air Canada from C$26.00 to C$33.00 and gave the stock an “outperform” rating in a report on Friday, October 13th. Scotiabank increased their price objective on Air Canada from C$27.00 to C$28.50 and gave the stock a “sector perform” rating in a report on Wednesday, September 20th. Finally, CIBC increased their price objective on Air Canada from C$23.00 to C$27.00 in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Air Canada has a consensus rating of “Buy” and an average target price of C$31.05.

In other Air Canada news, Director Calin Rovinescu sold 925,481 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of C$20.72, for a total value of C$19,175,966.32. Also, insider Kevin C. Howlett sold 30,769 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of C$22.00, for a total value of C$676,918.00. Insiders sold a total of 1,001,939 shares of company stock worth $20,827,620 over the last 90 days.

The company’s 50-day moving average is $21.96 and its 200 day moving average is $17.12. The stock has a market cap of $7.39 billion and a PE ratio of 8.91.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this report on another domain, it was copied illegally and republished in violation of US & international trademark and copyright laws. The legal version of this report can be accessed at https://www.dispatchtribunal.com/2017/10/27/air-canada-ac-trading-up-3-5-after-analyst-upgrade.html.

Air Canada Company Profile

Air Canada provides the U.S. transbonder and international airline services. The company offers scheduled passenger services under the Air Canada Express brand name in the Canadian market, the Canada-U.S. transbonder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.

Receive News & Ratings for Air Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Canada and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply