The Globe and Mail reports in its Thursday, April 30, edition that ATB Cormark Capital Markets analyst Chris Murray continues to rate Air Canada "outperform." The Globe's Darcy Keith writes that Mr. Murray cut his share target back by a loonie to $32. Analysts on average target the shares at $23.28. Mr. Murray maintained his rating for Air Canada as he previewed first quarter results scheduled for Thursday. He lowered estimates for the first quarter and for the full year to account for the increase in jet fuel prices. Mr. Murray says in a note: "Our revised estimates call for flat EBITDA growth in Q1/26, placing [our estimates] below consensus, with ~20.0% of expected H1/26 fuel needs hedged, mitigating a portion of the fuel-based pressure. While jet fuel prices sit notably above guidance levels and cloud the outlook, the impact should be minimized by hedges and the favourable demand/yield environment. We remain constructive on Air Canada at current valuations and view the fuel situation as manageable with insider buying and [share buyback] activity increasing in late March." The Globe reported on Sept. 11, 2024, that Murray had reaffirmed his "outperform" recommendation for Air Canada. It was then worth $15.41.