The Globe and Mail reports in its Wednesday edition that ATB Capital analyst Chris Murray has reaffirmed his "outperform" recommendation for Air Canada. The Globe's David Leeder writes in the Eye On Equities that Mr. Murray gave his share target a $1 trim to $32. Analysts on average target the shares at $29.09. While Air Canada continues to face cost pressures, Mr. Murray sees its outlook remaining intact following its fourth quarter financial release, which included guidance that was met by a negative reaction from investors. Mr. Murray says in a note: "Management was constructive on the demand environment, with booking activity providing good visibility for H1/24 and yields expected to remain in-line with 2023 levels. Management believes it can maintain a mid-80s load factor in 2024 while increasing capacity, which we expect to help offset current cost pressures. Management confirmed that adjusted CASM trends should begin to reverse in 2025 as inflationary pressures ease and labour productivity demonstrates improvement. We expect better cost absorption to support a stronger margin profile in 2025, particularly as capacity returns to prepandemic levels and ongoing fleet upgrades provide efficiency gains."