RBC Capital Markets raised its price target on Air Canada (AC.TO) to C$37 from C$28 on Thursday.
Analyst James McGarragle maintained an outperform rating on shares of the Montreal-based airline.
"The quarter reinforced our conviction in the underlying airline: demand is robust with fall bookings tracking at some of the strongest levels management has seen and the last major labour agreements are now ratified -- marking what we believe is the peak in unit cost pressure," the analyst said.
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