Today’s Analyst Ratings Coverage
Cormark Securities, a prominent financial services firm, has downgraded Air Canada’s stock rating to “Underperform” and set a target price of CAD 23.75. This rating suggests that Cormark Securities believes the stock will underperform compared to the overall market or industry. The lower target price implies a potential downside for investors who hold Air Canada shares.
Veritas Investment Research has assigned its rating on Air Canada with a “Reduce” rating, and no target was implemented in their coverage report.
Scotia Capital has raised its target price for Air Canada while maintaining an “Underperform” rating. The new target price is CAD 31, suggesting Scotia Capital expects the stock to reach that level in the future. However, the “Underperform” rating implies that Scotia Capital still holds a negative view of Air Canada’s prospects relative to its industry peers.
RBC Capital has increased its target price for Air Canada while assigning a “Sector Perform” rating. The revised target price is CAD 23, indicating RBC’s belief that the stock’s performance will align with the broader sector’s performance.
AC Stock Forecast & Analysis
Air Canada, one of the leading airline companies, has garnered significant attention from analysts who have provided their stock forecasts. Based on the analysis of 16 analysts, the average target price for Air Canada over the next 12 months is CAD 27.13. This suggests a potential upside for investors considering the current stock price. The average analyst rating for Air Canada is a “Buy,” indicating a positive sentiment towards the stock.
Stock Target Advisor’s own analysis of Air Canada and has assigned a “Neutral” rating. This assessment is based on a balanced consideration of five positive signals and five negative signals related to the company. While this analysis doesn’t lean towards a strong recommendation, it provides a more cautious viewpoint for investors to consider.
As of the last closing, Air Canada’s stock price stood at CAD 21.12. This represents the value at which the stock last traded on the market. Over the past week, Air Canada’s stock price has shown a positive change of +3.23%, indicating a short-term upward momentum. Looking at the past month, the stock has experienced a significant increase of +12.82%, suggesting a more substantial positive trend. Over the last year, the stock price has risen by +2.62%, reflecting modest growth over a more extended period.
While the average analyst target price for Air Canada is optimistic at CAD 27.13, there are varying viewpoints in the investment community. The average analyst rating of “Buy” suggests a positive sentiment, but other analyses provide a more cautious perspective.