After RBC Capital and Canaccord Genuity gave Air Canada (Other OTC: ACDVF) a Buy rating last month, the company received another Buy, this time from National Bank. Analyst Cameron Doerksen maintained a Buy rating on Air Canada today and set a price target of C$57.00. The company’s shares closed last Monday at $34.01.
Doerksen has an average return of 9.5% when recommending Air Canada.
According to TipRanks.com, Doerksen is ranked #4105 out of 5925 analysts.
Currently, the analyst consensus on Air Canada is a Strong Buy with an average price target of $43.46, which is a 26.6% upside from current levels. In a report released yesterday, CIBC also maintained a Buy rating on the stock with a C$57.00 price target.
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Based on Air Canada’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $115 million. In comparison, last year the company had a GAAP net loss of $175 million.
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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.
