02:11:05 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Air Canada
Symbol AC
Shares Issued 272,497,883
Close 2017-04-03 C$ 13.63
Market Cap C$ 3,714,146,145
Recent Sedar Documents

Globe says Taylor maintains Air Canada at "buy"

2017-04-04 06:32 ET - In the News

The Globe and Mail reports in its Tuesday, April 4, edition that Canaccord Genuity analyst Doug Taylor says Air Canada (AC-T) should be bought ahead of its investor day in September. The Globe's David Leeder writes in the Eye On Equities column that Mr. Taylor says in a note: "Our buy rating on AC is grounded in the view that as more attention is focused on the company shifting from the expansion phase to the harvest phase of its cycle, the valuation has room for further expansion. In the coming years we expect free cash flow growth, deleveraging and ongoing improvement in the general sentiment for the airline industry as it demonstrates rational, shareholder friendly behaviour. We believe these items will be an emphasis at the investor day in September which could be a catalyst for the stock." Mr. Taylor says it looks like "business as usual" for Air Canada outside the Pacific market after hosting Kathleen Murphy, the company's executive vice-president and chief financial officer, for a series of recent investor meetings in Western Canada. Mr. Taylor continues to rate Air Canada "buy," with an unchanged $16 share target. Analysts on average target the shares at $16.27.

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