Air Canada (AC) Given New C$24.00 Price Target at Raymond James

Air Canada (TSE:AC) had its price target lifted by research analysts at Raymond James from C$22.50 to C$24.00 in a report released on Thursday. The firm currently has a “market perform” rating on the stock. Raymond James’ target price indicates a potential downside of 5.85% from the company’s current price.

Several other equities research analysts also recently commented on AC. National Bank Financial lifted their price objective on Air Canada from C$29.00 to C$32.00 and gave the stock an “outperform” rating in a report on Thursday. Cormark set a C$39.00 price objective on Air Canada in a report on Monday, July 30th. Royal Bank of Canada lifted their price objective on Air Canada from C$28.00 to C$32.00 and gave the stock an “outperform” rating in a report on Monday, July 30th. AltaCorp Capital reiterated an “outperform” rating on shares of Air Canada in a report on Friday, July 13th. Finally, CIBC reduced their price objective on Air Canada from C$36.00 to C$35.00 in a report on Saturday, July 14th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of C$33.60.

TSE AC traded up C$0.51 during trading hours on Thursday, hitting C$25.49. The company’s stock had a trading volume of 958,483 shares, compared to its average volume of 1,241,315. 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 dated Thursday, August 23rd. The stock was sold at an average price of C$26.83, for a total value 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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Analyst Recommendations for Air Canada (TSE:AC)

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