---
title: "Analyst Thomas Fitzgerald Lifts Target Price to C$29 and Reiterates Buy Rating on Resilient Canadian Travel Demand and Margin Expansion Outlook into 2027"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295299807.md"
description: "TD Cowen analyst Thomas Fitzgerald maintains a Buy rating on Air Canada, raising the price target to C$29. The upgrade reflects resilient Canadian travel demand, margin expansion prospects through 2027, and improving fundamentals like labor agreements and new leadership. Despite headwinds from fuel costs, healthy yields and cargo trends support growth. This follows Stifel Nicolaus also maintaining a Buy with a C$25.50 target."
datetime: "2026-08-08T11:15:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295299807.md)
  - [en](https://longbridge.com/en/news/295299807.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295299807.md)
generator: "portal-rs"
---

# Analyst Thomas Fitzgerald Lifts Target Price to C$29 and Reiterates Buy Rating on Resilient Canadian Travel Demand and Margin Expansion Outlook into 2027

Thomas Fitzgerald CFA, an analyst from TD Cowen, maintained the Buy rating on Air Canada. The associated price target is C$29.00.

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Thomas Fitzgerald CFA has given his Buy rating due to a combination of factors including resilient Canadian travel demand and a constructive medium‑term earnings outlook. While he acknowledges some pressure from weaker Atlantic yields and higher fuel costs, he still expects healthy passenger yields versus pre‑war levels, solid cargo pricing trends, and benefits from lapping last year’s labor disruptions, which together support revenue and margin expansion into 2027.

Fitzgerald also highlights improving company fundamentals such as progress on multiple labor agreements, a clearer leadership path with a new CEO slated for 2027, and management initiatives aimed at improving unit costs and free cash flow. With shares trading around late‑2024 levels, reduced short interest, and his valuation anchored on a 2027 EV/EBITDA multiple that implies upside to the current price, he maintains a Buy rating and lifts his target price to C$29.

In another report released on July 21, Stifel Nicolaus also maintained a Buy rating on the stock with a C$25.50 price target.

ACDVF’s price has also changed moderately for the past six months – from C$21.050 to C$26.530, which is a 26.03% increase.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**