The Globe and Mail reports in its Friday, April 19, edition that National Bank Financial analyst Cameron Doerksen has reaffirmed his "outperform" recommendation for Air Canada. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doerksen targets the shares at $31. Analysts on average target the shares at $27.99. Mr. Doerksen says the valuation for Air Canada "continues to look attractive" ahead of the release of its first quarter 2024 results on May 1. The Globe reports that Mr. Doerksen sees demand and fares remaining "generally healthy" and its domestic capacity sitting "fairly rational" in the current quarter, despite trimming his estimates to reflect higher fuel prices and "less favourable" foreign exchange. He is now projecting quarterly adjusted earnings per share of a loss of 16 cents, down two cents from his previous estimate. His full-year 2024 and 2025 forecasts slid to $2.71 and $2.97, from $2.95 and $3.35. Mr. Doerksen says in a note: "Although the market seemingly remains concerned about the sustainability of air travel demand in Canada, the data continues to point to a still positive end market. ... The company's financial position is still improving."