The Globe and Mail reports in its Thursday edition that National Bank's Cameron Doerksen has reaffirmed his "sector perform" ranking for Air Canada. The Globe's David Leeder writes that Mr. Doerksen raised his share target by a loonie to $24. Analysts on average target the shares at $23.12. Mr. Doerksen thinks demand for air travel in Canada "appears to be healthy" and near-term results for Air Canada may "be boosted by lower fuel prices, which could be a short-term catalyst for the stock." Ahead of its fourth quarter results in early February, he predicted the airline's shares will remain range-bound, citing potential headwinds to sustained share price appreciation in the near-to-medium term. Mr. Doerksen says in a note: "Canadian airline industry system-wide capacity growth as measured by seats is up 0.6 per cent year-over-year in Q1/26, which is a moderation from prior quarters. Demand for air travel still looks positive into early 2026, but we see some risk of yield erosion, notably on sun routes this winter as industry capacity is up significantly (7 per cent). Our early look at trans-Atlantic industry capacity for summer 2026 shows that industry seats will be up a fairly aggressive 6.3 per cent year-over-year."