Air Canada Vote & VV (AC) Gets a Buy Rating from Scotiabank


Air Canada Vote & VV (AC), the Services sector company, was revisited by a Wall Street analyst yesterday. Scotiabank’s analyst Turan Quettawala reiterates their Buy rating on the shares, with a C$43 price target.

According to TipRanks.com, Quettawala is a 4-star analyst with an average return of 3.8% and a 65.0% success rate. Quettawala covers the Services sector, focusing on stocks such as WestJet Airlines Ltd, Union Pacific Corp, and Canadian Railway.

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Currently, the analyst consensus on Air Canada Vote & VV is a Strong Buy with an average price target of C$42.14, implying a 27.3% upside from current levels. In a report issued on February 15, BMO Capital also reiterated a Buy rating on the stock with a C$45 price target.

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Based on Air Canada Vote & VV’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$4.25 billion and GAAP net loss of C$231 million. In comparison, last year the company earned revenue of C$3.82 billion and had a GAAP net loss of C$11 million.

Air Canada provides airline transportation services. It engages in full-service airline, scheduled passenger and cargo services, serving more than two hundred airports on six continents. It operates flights in Canada, the USA, Latin America, Europe, Australia and Asia. The company was founded on April 11, 1936 and is headquartered in Saint-Laurent, Canada.

The company’s shares closed on Thursday at C$33.11.

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