Stifel Nicolaus Forecasts Strong Price Appreciation for Air Canada (TSE:AC) Stock

Air Canada (TSE:AC) had its price target lifted by equities researchers at Stifel Nicolaus from C$24.00 to C$28.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 37.25% from the company’s current price.

AC has been the topic of a number of other research reports. Raymond James Financial cut Air Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday. Royal Bank Of Canada set a C$25.00 price objective on shares of Air Canada and gave the company an “outperform” rating in a research report on Tuesday, November 25th. UBS Group raised Air Canada to a “hold” rating in a research note on Tuesday, November 18th. Canadian Imperial Bank of Commerce boosted their price objective on shares of Air Canada from C$23.00 to C$24.00 in a research note on Wednesday, January 21st. Finally, National Bank Financial increased their target price on shares of Air Canada from C$23.00 to C$24.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$24.85.

Air Canada Stock Performance

AC traded up C$0.15 during trading on Tuesday, hitting C$20.40. The stock had a trading volume of 1,708,528 shares, compared to its average volume of 2,568,620. The firm has a market capitalization of C$6.01 billion, a P/E ratio of 10.97, a PEG ratio of 0.02 and a beta of 1.59. Air Canada has a twelve month low of C$12.69 and a twelve month high of C$23.72. The company’s 50-day moving average price is C$19.49 and its 200 day moving average price is C$18.99. 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.