National Bank downgraded Air Canada (ACDVF) to Sector Perform from Outperform with a price target of C$22, down from C$26. The sees “several headwinds” to the stock moving higher in the near- to medium term, including “weak” Q3 results due to the strike, potential yield pressure, and lingering labor risk. Air Canada faces a lack of positive catalysts to drive the stock higher, the analyst tells investors in a research note.
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