TD Cowen analyst Thomas Fitzgerald CFA reiterated a Buy rating on Air Canada (ACDVF – Research Report) today and set a price target of C$23.00.
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Thomas Fitzgerald CFA’s rating is based on several factors, including the adjustments made to Air Canada’s financial estimates to account for current economic conditions. Despite lowering the price target to C$23 due to fuel costs and currency exchange impacts, Fitzgerald maintains a Buy rating, indicating confidence in the company’s ability to navigate these challenges.
The adjustments reflect a conservative approach, considering the company’s increased currency hedging and potential revenue from USD-denominated sources. Even with headwinds like decreased travel due to tariff issues, the revised capacity and financial forecasts support the Buy recommendation, emphasizing Air Canada’s resilience and potential for future growth.
In another report released on February 5, Scotiabank also maintained a Buy rating on the stock with a C$23.00 price target.