CIBC Lowers Air Canada (TSE:AC) Price Target to C$22.00

Air Canada (TSE:AC) had its target price trimmed by CIBC from C$24.00 to C$22.00 in a research note released on Friday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on the stock. ATB Capital upped their price target on shares of Air Canada from C$31.00 to C$32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Canaccord Genuity Group decreased their price target on shares of Air Canada from C$28.00 to C$25.00 and set a “buy” rating on the stock in a report on Thursday. National Bankshares cut shares of Air Canada from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from C$26.00 to C$22.00 in a report on Wednesday, September 24th. Stifel Nicolaus decreased their price target on shares of Air Canada from C$25.00 to C$24.00 and set a “buy” rating on the stock in a report on Friday. Finally, Raymond James Financial upped their price target on shares of Air Canada from C$24.00 to C$27.00 and gave the stock a “moderate buy” rating in a report on Tuesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$24.91.

Air Canada Trading Down 1.1%

Air Canada stock opened at C$17.78 on Friday. The stock has a market cap of C$5.27 billion, a P/E ratio of 4.50, a PEG ratio of 0.02 and a beta of 1.73. Air Canada has a fifty-two week low of C$12.69 and a fifty-two week high of C$26.18. The firm’s fifty day moving average price is C$19.46 and its 200-day moving average price is C$18.07. The company has a debt-to-equity ratio of 400.00, a quick ratio of 1.06 and a current ratio of 0.92.

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.