Air Canada (AC) Price Target Raised to C$32.00

Air Canada (TSE:AC) had its target price boosted by research analysts at National Bank Financial from C$29.00 to C$32.00 in a research note issued on Thursday. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s target price suggests a potential upside of 20.80% from the stock’s current price.

Other equities analysts also recently issued reports about the company. Cormark set a C$39.00 price objective on Air Canada in a research note on Monday, July 30th. CIBC dropped their price objective on Air Canada from C$36.00 to C$35.00 in a research note on Saturday, July 14th. BMO Capital Markets raised their price objective on Air Canada from C$34.00 to C$39.00 in a research note on Tuesday, September 4th. Royal Bank of Canada raised their price objective on Air Canada from C$28.00 to C$32.00 and gave the company an “outperform” rating in a research note on Monday, July 30th. Finally, AltaCorp Capital reaffirmed an “outperform” rating on shares of Air Canada in a research note on Friday, July 13th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of C$34.00.

AC opened at C$26.49 on Thursday. Air Canada has a 12 month low of C$20.33 and a 12 month high of C$29.11.

In other Air Canada news, Director Benjamin M. Smith sold 11,608 shares of the firm’s stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of C$26.83, for a total transaction of C$311,442.64.

About Air Canada

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

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