Company News

BUZZ-Air Canada: Hits record high; Cowen & Co, BMO raise PT

** Shares of Canada’s largest airline rose as much as 11 pct to record high of C$25.92 on Wednesday

** Cowen & Co raises rating to “Outperform” from “Market-perform”, PT to C$40 from C$23, after company’s investor day on Tuesday

** BMO raises PT by C$6 to C$34; Paradigm Capital reiterates “buy” rating and C$27 PT, says investor day showed “continuation of the impressive financial turnaround” delivered by management

** Air Canada has done an “excellent job” executing their most recent growth phase...(and) shifting gears from growth to maturation - Cowen & Co

** 12 of 16 brokerages rate the stock “buy” or higher, 3 “hold” and only 1 “sell”; Median PT C$30

** Up to Wednesday’s close, Air Canada’s stock has more than doubled this year