RBC Capital Reaffirms Their Buy Rating on Air Canada Vote & VV (AC)


Today, an analyst has provided a rating update for the Services sector company, Air Canada Vote & VV (AC). RBC Capital’s analyst Walter Spracklin reiterates their Buy rating on the shares, with a C$57 price target.

According to TipRanks.com, Spracklin is a top 100 analyst with an average return of 19.2% and a 75.7% success rate. Spracklin covers the Services sector, focusing on stocks such as WestJet Airlines Ltd, Canadian Railway, and Canadian Pacific.

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Air Canada Vote & VV has an analyst consensus of Strong Buy, with a price target consensus of C$53, which is a 17.5% upside from current levels. In a report issued on July 16, Cowen & Co. also maintained a Buy rating on the stock with a C$47 price target.

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Based on Air Canada Vote & VV’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$4.76 billion and net profit of C$343 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 Wednesday at C$45.09, close to its 52-week high of C$47.43.

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