Canaccord Genuity Thinks Air Canada’s Stock is Going to Recover
In a report issued on July 31, Doug Taylor from Canaccord Genuity maintained a Buy rating on Air Canada (ACDVF), with a price target of C$24.00. The company’s shares closed last Monday at $11.49, close to its 52-week low of $6.49.
Taylor has an average return of 39.3% when recommending Air Canada.
According to TipRanks.com, Taylor is ranked #942 out of 6850 analysts.
Air Canada has an analyst consensus of Moderate Buy, with a price target consensus of $18.85, a 59.1% upside from current levels. In a report issued on July 22, RBC Capital also maintained a Buy rating on the stock with a C$23.00 price target.
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Based on Air Canada’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.72 billion and GAAP net loss of $1.05 billion. In comparison, last year the company earned revenue of $4.43 billion and had a net profit of $345 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.