Could Air Canada Change Direction After Today’s Huge Decline?

 Could Air Canada Change Direction After Today's Huge Decline?

The stock of Air Canada (TSE:AC) is a huge mover today! About 85,810 shares traded hands. Air Canada (TSE:AC) has risen 60.81% since April 20, 2016 and is uptrending. It has outperformed by 55.40% the S&P500.
The move comes after 9 months negative chart setup for the $3.90B company. It was reported on Nov, 24 by Barchart.com. We have $13.72 PT which if reached, will make TSE:AC worth $156.00 million less.

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. Air Canada has been the topic of 37 analyst reports since August 13, 2015 according to StockzIntelligence Inc. The company was downgraded on Thursday, August 13 by Scotia Capital. Raymond James downgraded the shares of AC in a report on Thursday, January 14 to “Underperform” rating. As per Thursday, August 13, the company rating was maintained by Canaccord Genuity. On Thursday, August 13 the stock rating was maintained by IBC with “Outperform”. The stock has “Sector Perform” rating given by Scotia Capital on Friday, September 4. The firm earned “Buy” rating on Tuesday, June 28 by Canaccord Genuity. The firm has “Top Pick” rating by RBC Capital Markets given on Tuesday, November 8. National Bank Canada maintained Air Canada (TSE:AC) on Friday, November 6 with “Outperform” rating. The stock of Air Canada (TSE:AC) has “Outperform” rating given on Friday, October 14 by National Bank Canada. The stock of Air Canada (TSE:AC) has “Buy” rating given on Thursday, August 13 by TD Securities.

More recent Air Canada (TSE:AC) news were published by: Theglobeandmail.com which released: “Air Canada reverses poppy ban after outcry from employees” on November 07, 2016. Also Theglobeandmail.com published the news titled: “Air Canada may expand Rouge to compete with new low-cost airlines” on November 07, 2016. Cbc.ca‘s news article titled: “Calm Air codeshare flights not affected by First Air-Canadian North codeshare end” with publication date: November 21, 2016 was also an interesting one.

Air Canada is a domestic, United States transborder and international airline company. The company has a market cap of $3.90 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 4.28 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.

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