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Inside the Market’s roundup of some of today’s key analyst actions
Pointing to the recent outperformance of its shares, Scotia Capital analyst Konark Gupta lowered his rating for
Air Canada (AC-T) to “sector perform” from “sector outperform” on Friday.
“The shares are over 30 per cent year-to-date likely on recovery hopes, outperforming the rest of our coverage by 17 points and TSX by 22 points,” he said. “While the stock could have further upside potential in the long term from full recovery in air travel and strong FCF generation, we note at current levels the market is already largely pricing in our base case projections to 2023 (discounted back) as well as a scenario where EBITDA fully recov