Cowen Boosts Air Canada (TSE:AC) Price Target to C$47.00

Air Canada (TSE:AC) had its price objective upped by Cowen from C$46.00 to C$47.00 in a report published on Tuesday, BayStreet.CA reports.

Several other equities research analysts also recently issued reports on the stock. Cormark reissued a market perform rating and set a C$21.00 price objective on shares of WestJet Airlines in a research report on Tuesday, March 19th. Morgan Stanley reissued an underweight rating and set a C$18.00 price objective on shares of WestJet Airlines in a research report on Friday, April 5th. TD Securities lowered their price objective on shares of Transcontinental from C$25.00 to C$22.00 and set a buy rating for the company in a research report on Friday, June 7th. National Bank Financial raised shares of Slate Office REIT from a sector perform under weight rating to an outperfrom under weight rating in a research report on Tuesday, May 7th. Finally, CIBC increased their target price on shares of Stella-Jones from C$51.00 to C$53.00 in a report on Tuesday, May 7th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Air Canada currently has a consensus rating of Buy and an average price target of C$45.82.

Shares of TSE:AC opened at C$44.32 on Tuesday. Air Canada has a 52 week low of C$21.79 and a 52 week high of C$45.50. The company has a debt-to-equity ratio of 294.80, a current ratio of 0.93 and a quick ratio of 0.85. The company has a market capitalization of $11.74 billion and a P/E ratio of 17.18. The firm has a 50 day moving average price of C$40.47.

Air Canada (TSE:AC) last issued its earnings results on Monday, May 6th. The company reported C$0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of C($0.18) by C$0.24. The firm had revenue of C$4.45 billion during the quarter, compared to the consensus estimate of C$4.38 billion. As a group, equities analysts forecast that Air Canada will post 4.5700004 earnings per share for the current year.

In other news, Senior Officer Pierre Houle sold 1,955 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of C$35.81, for a total transaction of C$70,009.53.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. It offers scheduled passenger services under the Air Canada Vacations 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.

See Also: Net Margin

Analyst Recommendations for Air Canada (TSE:AC)

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