Inside the Market’s roundup of some of today’s key analyst actions
“We appreciate that the market is concerned about the sustainability of air travel demand and pricing as well as the ongoing contract talks with Air Canada ’s pilot union,” he said. “However, we believe that the current share price reflects an overly dire scenario for Air Canada .
“In addition, compared to the U.S. peer group, Air Canada’s share price performance has largely underperformed since the beginning of 2023, only outperforming American Airlines . Delta shares have increased 42 per cent since the start of 2023 and United is up 28 per cent while AC’s stock has declined over 7 per cent over the same period.”
“Overall Canadian industry domestic capacity in Q3/24, as measured by seats, is projected to be up 0.9 per cent year-over-year but down 7.1 per cent versus Q3/19. The U.S. trans-border market will see industry capacity up 13.7 per cent year-over-year in Q3 while international capacity to and from Canada is set to increase 8.7 per cent year-over-year.
Mr. Payne thinks the acquired assets diversifies Topaz’s “regional exposure in to the high-impact Montney liquids fairway , while maintains the quality-bias of its assets .” With a “a substantial amount” of information on the incident and the Whitehorse-based company’s next steps unknown, Mr. Terentiew thinks future cash flow forecasts are “very uncertain.”
“A larger and financially stronger miner could come in and consolidate the mines and projects in the region, but until the permitting status and pathway to reopening the mine are clarified, we expect potential acquirers to stay on the sidelines,” he concluded.
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