Raymond James Upgrades Air Canada (TSE:AC) to “Moderate Buy”

Raymond James upgraded shares of Air Canada (TSE:AC) to a moderate buy rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on AC. ATB Capital increased their price target on Air Canada from C$28.00 to C$31.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets upped their price objective on shares of Air Canada from C$29.00 to C$31.00 in a research report on Wednesday. Stifel Nicolaus upgraded Air Canada from a “hold” rating to a “buy” rating and raised their target price for the company from C$20.00 to C$25.50 in a research report on Monday, November 4th. National Bankshares increased their price target on Air Canada from C$22.00 to C$27.00 in a research report on Monday, November 4th. Finally, Cormark boosted their price objective on Air Canada from C$26.75 to C$29.50 in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$26.50.

Air Canada Stock Performance

Shares of TSE AC opened at C$21.72 on Tuesday. The company has a 50 day simple moving average of C$22.14 and a two-hundred day simple moving average of C$18.51. The stock has a market cap of C$7.79 billion, a price-to-earnings ratio of 4.85, a PEG ratio of 0.02 and a beta of 2.39. The company has a current ratio of 0.85, a quick ratio of 1.06 and a debt-to-equity ratio of 1,070.99. Air Canada has a 12 month low of C$14.47 and a 12 month high of C$26.18.

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.