The Globe and Mail reports in its Tuesday, Jan. 30, edition that RBC Dominion Securities analyst Walter Spracklin has reiterated his "sector perform" recommendation for Air Canada. The Globe's David Leeder writes that Mr. Spracklin boosted his share target by a loonie to $18. Analysts on average target the shares at $29.95. Mr. Spracklin raised his fourth quarter 2023 earnings expectation on Monday for Air Canada to reflect lower fuel costs. Mr. Spracklin says in a note: "For 2024, we previously anticipated a return to 2019 capacity levels by 2024. However, given the robust capacity ramp-up over the last two years, OEM delays, and MRO slowdowns, we reduce our capacity assumption for Air Canada to a decline of 3 per cent vs. 2019 (or up 10 per cent year-over-year). ... We see multiple headwinds facing the airline industry, including the sustainability of higher fares, increased new entrants, and higher labour costs. ... Given the challenging operating environment (supply-chain challenges, MRO delays, high costs, and geopolitical downside risks), we believe AC will leave 2024 EBITDA guidance unchanged." The Globe reported on July 20 that Mr. Spracklin rated Air Canada "sector perform" when it was worth $25.79.