Air Canada price target raised to C$32 from C$31 at BMO Capital

BMO Capital raised the firm’s price target on Air Canada to C$32 from C$31 and keeps an Outperform rating on the shares. The firm expects Air Canada to finish 2023 strong and guide for another strong performance in 2024, notwithstanding a muted-macroeconomic backdrop. BMO further expects the strategic emphasis will shift to selective growth and harnessing of productivity following several years when focus was on network restoration.