Air Canada (AC) Stock Rating Upgraded by Scotiabank

Air Canada (TSE:AC) was upgraded by equities researchers at Scotiabank from a “sector perform” rating to an “outperform” rating in a research report issued on Tuesday. The brokerage currently has a C$32.00 target price on the stock, up from their previous target price of C$29.25. Scotiabank’s target price indicates a potential upside of 25.44% from the stock’s current price.

Several other analysts also recently weighed in on the stock. CIBC lifted their price target on shares of Air Canada from C$36.00 to C$38.00 in a research note on Thursday, January 4th. Canaccord Genuity lifted their price target on shares of Air Canada from C$31.00 to C$33.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. National Bank Financial reaffirmed an “outperform market weight” rating on shares of Air Canada in a research note on Sunday, January 14th. Royal Bank of Canada decreased their price target on shares of Air Canada from C$33.00 to C$31.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a C$29.00 price target on shares of Air Canada in a research note on Monday, November 13th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of C$32.36.

Air Canada (TSE:AC) traded up C$0.87 during trading on Tuesday, hitting C$25.51. 1,539,937 shares of the stock traded hands, compared to its average volume of 1,400,671. Air Canada has a 1 year low of C$12.49 and a 1 year high of C$28.70. The company has a market capitalization of $6,730.00, a P/E ratio of 3.46 and a beta of 0.94.

In related news, insider Chris Isford sold 15,000 shares of Air Canada stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of C$25.45, for a total transaction of C$381,750.00.

COPYRIGHT VIOLATION NOTICE: “Air Canada (AC) Stock Rating Upgraded by Scotiabank” was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at

Air Canada Company Profile

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

Analyst Recommendations for Air Canada (TSE:AC)

Receive News & Ratings for Air Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Air Canada and related companies with's FREE daily email newsletter.

Leave a Reply