Scotiabank cut target for Air Canada stock to CAD 33.00

Published on 10/17/2026 at 21:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Air Canada reports third-quarter results on October 29, 2026. Air Canada stock last traded at CAD 21.99 on October 16, 2026, down 2.09 percent on TSX.

Analyst view and trading levels

Scotiabank lowered its Air Canada target from CAD 37.50 to CAD 33.00 on October 15, 2026.
Air Canada will present third-quarter 2026 results on October 29, 2026.
Air Canada stock last traded at CAD 21.99 on October 16, 2026 at 4:00 p.m. ET, down 2.09 percent versus the TSX prior close.
Air Canada's market capitalization was CAD 5.6 billion and its P/E ratio was 15.49 as of October 16, 2026.

AC, CA0089118776, Illustration mit AI erstellt.

Scotiabank lowered its Air Canada target from CAD 37.50 to CAD 33.00 on October 15, 2026, according to The Globe and Mail. The new target was 50.07 percent above the CAD 21.99 TSX price. Air Canada last traded at CAD 21.99 on October 16, 2026 at 4:00 p.m. ET, down 2.09 percent versus the TSX prior close of October 15, 2026.

Results arrive October 29

Air Canada will present its third-quarter 2026 results on October 29, 2026. The company said the results will be released before a conference call scheduled for 5:30 p.m. ET, according to Air Canada. That date gives the target revision a near-term test through the carrier's next reported period.

Price position and trading volume

The TSX range was CAD 16.45 to CAD 31.45 as of October 16, 2026. At CAD 21.99, the stock stood 30.08 percent below its 52-week high and 33.68 percent above its 52-week low. Trading volume reached 2,255,094 shares, versus an average of 2,821,325 shares for the same market reference.

Air Canada's second-quarter 2026 revenue was CAD 6.27 billion, while the company reported a net loss of CAD 178.00 million for that period. The figures show why the next report matters more than the target revision alone.

Valuation and airline comparison

Air Canada's market capitalization was CAD 5.6 billion and its P/E ratio was 15.49 as of October 16, 2026. Air Canada describes itself as Canada's flag carrier and says it serves more than 180 airports directly, according to Air Canada.

Comparison with peers

Air Canada (TSX, CAD): minus 2.09 percent, P/E 15.49, market capitalization CAD 5.6 billion.
Southwest Airlines (NYSE, USD): minus 3.26 percent, P/E 24.23, market capitalization USD 19.3 billion.
Delta Air Lines (NYSE, USD): minus 3.47 percent, P/E 15.04, market capitalization USD 49.6 billion.

TSX price and market view

Air Canada's CAD 21.99 TSX price on October 16, 2026 leaves the shares below the 52-week high while the October 29 results date provides the next scheduled valuation point. The next report will put the CAD 33.00 Scotiabank target against a fresh operating update.