Inside the Market’s roundup of some of today’s key analyst actions
), according to National Bank Financial analyst Vishal Shreedhar, who expects looming mortgage renewals to pressure spending even further moving forward.
“Recent consumer credit trend reports published by major credit bureaus indicate increasing financial pressure ,” he said. “Nonetheless, one major credit bureau observed that 90+ days balance delinquencies for credit cards remain below Q2/19 levels, suggesting that the frequency of missed payments is not rising as rapidly as expected.
“Our review of select peer commentary ... suggests the following: More selective consumer spending; Moderation in big-ticket discretionary purchases; and Cautious near-term expectations given an uncertain macroeconomic backdrop,” he said. “Although jet fuel prices increased materially throughout the quarter and have weighed on sentiment across the sector, AC hedged 30 per cent of expected Q3 consumption at lower prices, which we expect to support the margin profile,” he said. “We will be looking for updates on demand conditions heading into 2024, particularly for business travel after management anticipated a step-up in traffic levels post-Labour Day; labour negotiations; and timing with regard to new capacity.
Maintaining an “outperform” recommendation for Air Canada shares, Mr. Murray trimmed his target to $35 from a previous Street-high of $38, “largely on expectations of higher net debt levels in 2024.” The average target is $30.77.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia Set for Early Losses as Gaza Offensive Looms: Markets WrapHaven assets are set to be in focus in Asia Monday as traders nervously watch events in the Middle East, with the prospect of a ground offensive in Gaza looming large over markets.
Read more »
Asia Haven Assets in Focus as Gaza Offensive Looms: Markets Wrap(Bloomberg) -- The greenback and yen were steady in early trading in Asia as the US sought to head off a widening of the Middle East conflict, with the...
Read more »
Nervous markets eye Gaza as oil hovers above $90Explore stories from Atlantic Canada.
Read more »
Global Markets Stable as US Pushes to Contain Middle East War(Bloomberg) -- Demand for haven assets remained in abeyance as the trading week began in Asia with the US and its allies attempting to contain the Israel...
Read more »
Global markets brace for fallout as Middle East tensions riseExplore stories from Atlantic Canada.
Read more »
Global Markets Brace for More Volatility Amid Israel ConflictTraders are preparing for another week of wild price swings as continuing conflict in the Middle East fuels demand for haven assets and prompts investors to reconsider their views on global interest rates.
Read more »