RBC Capital Thinks Air Canada’s Stock is Going to Recover
RBC Capital analyst Walter Spracklin maintained a Buy rating on Air Canada (ACDVF) on July 31 and set a price target of C$22.00. The company’s shares closed last Friday at $11.29, close to its 52-week low of $6.49.
According to TipRanks.com, Spracklin is a 5-star analyst with an average return of 13.9% and a 67.3% success rate. Spracklin covers the Services sector, focusing on stocks such as Andlauer Healthcare Group, Republic Services, and Waste Connections.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Air Canada with a $19.01 average price target, representing a 59.3% upside. In a report issued on July 23, Canaccord Genuity also maintained a Buy rating on the stock with a C$24.00 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.