The stock of Air Canada (TSE:AC) hit a new 52-week high and has $18.01 target or 38.00% above today’s $13.05 share price. The 8 months bullish chart indicates low risk for the $3.67B company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $18.01 price target is reached, the company will be worth $1.39B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 506,977 shares traded hands. Air Canada (TSE:AC) has risen 57.26% since March 10, 2016 and is uptrending. It has outperformed by 51.65% the S&P500.
Air Canada (TSE:AC) Ratings Coverage
Out of 8 analysts covering Air Canada (TSE:AC), 6 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 75% are positive. $22 is the highest target while $8.25 is the lowest. The $14.57 average target is 11.65% above today’s ($13.05) stock price. Air Canada has been the topic of 32 analyst reports since August 13, 2015 according to StockzIntelligence Inc. Scotia Capital maintained it with “Sector Perform” rating and $14 target price in Friday, September 4 report. Canaccord Genuity initiated the shares of AC in a report on Tuesday, June 28 with “Buy” rating. National Bank Canada maintained the stock with “Outperform” rating in Friday, October 14 report. The firm earned “Buy” rating on Thursday, August 13 by Canaccord Genuity. The firm has “Outperform” rating by IBC given on Thursday, August 13. The company was maintained on Friday, November 6 by National Bank Canada. Raymond James downgraded Air Canada (TSE:AC) on Thursday, January 14 to “Underperform” rating. The firm earned “Buy” rating on Thursday, August 13 by TD Securities. The stock of Air Canada (TSE:AC) has “Outperform” rating given on Thursday, August 13 by Scotia Capital.
More notable recent Air Canada (TSE:AC) news were published by: Cbc.ca which released: “Air Canada takeoff in Calgary aborted after engine problem” on October 08, 2016, also Cbc.ca with their article: “Passengers furious as Air Canada strands travellers in Rio for 2 days” published on October 06, 2016, Cbc.ca published: “Air Canada, WestJet ‘colluded’ to charge checked bag fee, proposed class …” on September 27, 2016. More interesting news about Air Canada (TSE:AC) were released by: Barrons.com and their article: “Air Canada Can Rise 50% And Fetches 3x Earnings” published on September 30, 2016 as well as Theglobeandmail.com‘s news article titled: “Why Air Canada’s shares are soaring – and why their ascent should continue” with publication date: October 12, 2016.
Air Canada is a domestic, United States transborder and international airline company. The company has a market cap of $3.67 billion. The Firm is a well-known provider of scheduled passenger services in the Canadian market, the Canada-United States transborder market and in the international market to and from Canada. It has a 6.28 P/E ratio. The Company’s mainline operates a fleet of over 170 aircraft, including Airbus narrow-body aircraft, Boeing and Airbus wide-body aircraft, and Embraer 190 regional jets.
AC Company Profile
Associated Capital Group, Inc., incorporated on April 15, 2015, is the parent operating firm for the Spin-off of GAMCO Investors, Inc.’s (GAMCO’s) alternative investment management business, institutional research services operations, and certain cash and other assets. The Firm operates through the investment advisory and asset management business segment. The Firm conducts its investment advisory business principally through Gabelli Securities, Inc. (GSI). GSI and its subsidiary, Gabelli & Partners, LLC (Gabelli & Partners), collectively serve as general partners, co-general partners or investment managers to investment funds, including limited partnerships and offshore companies (collectively, Investment Partnerships), and separate accounts.
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