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BMO Capital Markets reiterated its Outperform rating and Cdn$29.00 price target on Air Canada (TSX:AC:CN) (OTC:ACDVF) following meetings with the airline’s executives.
The investment firm recently hosted Air Canada’s EVP & CFO John Di Bert and Head of IR & Corporate Sustainability Valerie Durand for discussions with institutional investors.
BMO Capital indicated these meetings reinforced its positive outlook on Air Canada’s near-term results and medium-term value-creation framework.
The firm believes Air Canada presents a compelling risk/reward profile despite potential near-term volatility related to the company’s SIB (substantial issuer bid) expiry on June 20 and heightened geopolitical risks.
BMO Capital noted that current bookings appear supportive of Air Canada’s near-term targets, contributing to the firm’s maintained positive stance on the airline stock.
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