Citigroup Issues Positive Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC - Free Report) had its price objective lifted by Citigroup from C$21.00 to C$28.50 in a report published on Monday morning, Marketbeat reports.

A number of other research analysts have also issued reports on AC. BMO Capital Markets boosted their target price on shares of Air Canada from C$28.00 to C$29.00 in a research note on Monday, November 4th. Cormark raised their target price on Air Canada from C$21.75 to C$26.75 in a research report on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on Air Canada from C$32.00 to C$34.00 in a research report on Monday, November 4th. Raymond James lowered their price target on Air Canada from C$28.00 to C$22.00 and set an "outperform" rating on the stock in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada reduced their price objective on shares of Air Canada from C$18.00 to C$17.00 and set a "sector perform" rating for the company in a report on Tuesday, July 23rd. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Air Canada currently has a consensus rating of "Moderate Buy" and an average target price of C$25.75.

Air Canada Stock Performance

AC traded down C$0.53 during trading hours on Monday, hitting C$23.97. 6,578,021 shares of the stock were exchanged, compared to its average volume of 2,440,053. The company has a debt-to-equity ratio of 1,070.99, a current ratio of 0.85 and a quick ratio of 1.06. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$24.99. The stock has a 50-day simple moving average of C$18.42 and a 200-day simple moving average of C$17.71. The stock has a market cap of C$8.59 billion, a price-to-earnings ratio of 5.35, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39.

About Air Canada

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names 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.