Cowen & Co. Maintains a Buy Rating on Air Canada Vote & VV (AC)


Air Canada Vote & VV (AC), the Services sector company, has received a rating update from a Wall Street analyst today. Analyst Helane Becker from Cowen & Co. reiterated a Buy rating, with a C$47 price target.

According to TipRanks.com, Becker is a top 100 analyst with an average return of 20.2% and a 73.3% success rate. Becker covers the Services sector, focusing on stocks such as Allegiant Travel Company, American Airlines, and JetBlue Airways.

Air Canada Vote & VV has an analyst consensus of Strong Buy, with a price target consensus of C$48.80, implying a 13.4% upside from current levels. In a report issued on July 12, RBC Capital also maintained a Buy rating on the stock with a C$48 price target.

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Based on Air Canada Vote & VV’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$4.45 billion and net profit of C$345 million. In comparison, last year the company earned revenue of C$4.33 billion and had a GAAP net loss of C$77 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 Tuesday at C$43.04, close to its 52-week high of C$43.40.

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