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

Air Canada (TSE:AC - Free Report) had its price target lifted by Cormark from C$26.75 to C$29.50 in a research report released on Wednesday,BayStreet.CA reports.

Several other brokerages also recently issued reports on AC. Canaccord Genuity Group upped their price target on shares of Air Canada from C$25.00 to C$29.00 in a report on Monday, November 4th. Jefferies Financial Group increased their price target on Air Canada from C$18.00 to C$22.00 in a report on Tuesday, November 5th. Stifel Canada upgraded Air Canada from a "hold" rating to a "strong-buy" rating in a research note on Sunday, November 3rd. CIBC upped their target price on shares of Air Canada from C$27.00 to C$28.00 in a report on Wednesday, December 4th. Finally, National Bankshares upped their price objective on shares of Air Canada from C$22.00 to C$27.00 in a research report on Monday, November 4th. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$26.50.

Air Canada Stock Down 4.5 %

AC traded down C$1.01 during trading on Wednesday, reaching C$21.58. 5,884,272 shares of the stock were exchanged, compared to its average volume of 2,583,765. The company has a debt-to-equity ratio of 1,070.99, a quick ratio of 1.06 and a current ratio of 0.85. The stock has a market cap of C$7.74 billion, a P/E ratio of 4.82, a price-to-earnings-growth ratio of 0.02 and a beta of 2.39. Air Canada has a twelve month low of C$14.47 and a twelve month high of C$26.18. The stock's 50 day moving average price is C$21.93 and its two-hundred day moving average price is C$18.46.

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.