The Globe and Mail reports in its Wednesday, July 12, edition that Citi analyst Stephen Trent has reaffirmed his "buy" recommendation for Air Canada. The Globe's Darcy Keith writes that Mr. Trent gave his share target a $4 boost to $30. Analysts on average target the shares at $29.37. While cost risks loom at Air Canada because of the recent labour contract reopening for its pilots, Mr. Trent says the airline's strong international long-haul flight exposure positions it well. Mr. Trent says in a note: "This exposure should at least somewhat mitigate Air Canada's earnings risks from higher labour costs. Air Canada had the highest prepandemic, international long-haul exposure of any Citi-covered North American airline." Mr. Trent's recommendation to buy shares "is based on strong global potential for a continued recovery in international longhaul passenger revenue, and what looks to be a stock price dip." He notes the increase in his price target stems in part from increasing the target multiple from 6.5 times to 7.1 times -- with the latter now in-line with the stock's prepandemic historical average. The Globe reported on June 29 that Scotiabank rated Air Canada "sector outperform." It was then worth $24.86.