CIBC Increases Air Canada (TSE:AC) Price Target to C$38.00

Air Canada (TSE:AC) had its price target increased by analysts at CIBC from C$36.00 to C$38.00 in a research report issued on Thursday, January 4th. CIBC’s price objective would suggest a potential upside of 55.17% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. BMO Capital Markets reduced their price target on Air Canada to C$34.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. Cowen upgraded Air Canada from a “market perform” rating to an “outperform” rating and lifted their price target for the company from C$23.00 to C$40.00 in a research report on Wednesday, September 20th. Canaccord Genuity raised their price objective on Air Canada from C$31.00 to C$33.00 and gave the company a “buy” rating in a report on Monday, October 23rd. National Bank Financial raised their price objective on Air Canada from C$26.00 to C$33.00 and gave the company an “outperform” rating in a report on Friday, October 13th. Finally, Scotiabank lifted their price target on Air Canada from C$28.50 to C$30.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 26th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of C$31.05.

Air Canada (TSE:AC) opened at C$24.49 on Thursday. Air Canada has a 12 month low of C$12.49 and a 12 month high of C$28.70. The stock has a market capitalization of $6,690.00, a PE ratio of 3.63 and a beta of 1.18.

In related news, insider Chris Isford sold 15,000 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of C$25.45, for a total value of C$381,750.00. Also, Director Benjamin M. Smith sold 30,669 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of C$22.01, for a total value of C$675,024.69. Insiders have sold a total of 48,544 shares of company stock valued at $1,125,897 over the last three months.

TRADEMARK VIOLATION NOTICE: “CIBC Increases Air Canada (TSE:AC) Price Target to C$38.00” was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://ledgergazette.com/2018/01/13/air-canada-ac-pt-raised-to-c38-00.html.

About Air Canada

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 MarketBeat.com's FREE daily email newsletter.

Leave a Reply