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Thursday's TSX breakouts: This industrial stock has surged 25% in 2023 on strong travel and military defence demand

Analysts see the potential for an additional 18-per-cent upside

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UPDATE 3-Air Canada shares close marginally lower after government takes equity stake

(Updates with closing prices, adds reaction)
MONTREAL, April 13 (Reuters) - Air Canada stock ended marginally lower in volatile trading on Tuesday on concerns that existing shareholdings would be diluted after the federal government took an equity stake in the carrier as part of C$5.9 billion ($4.7 billion) in aid.
Analysts and investors said Air Canada’s decision to accept the bigger-than-expected aid package was the right decision for Canada’s largest carrier as it tries to cope with the crippling downturn in air travel caused by the coronavirus pandemic.
“Definitely a positive development because it’s giving them access to a very attractively priced backstop credit facility at very reasonable terms,” said Catharine Sterritt, portfolio manager at CIBC Asset Management, a top shareholder.

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Air Canada shares hit turbulence after government takes equity stake

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Air Canada shares fell sharply on Tuesday on fears that its market value would be diluted after the Canadian government took a discounted equity stake in the flagship carrier as part of a deal for C$5.9 billion ($4.7 billion) in aid.
But analysts and investors said Air Canada's decision to accept the bigger-than-expected aid package, which was announced on Monday, was the right decision for Canada's largest carrier to ride out the crippling downturn in air travel caused by the coronavirus pandemic.
The deal gives Ottawa a roughly 6 per cent stake in Canada's largest carrier at a discount of 14 per cent, which prompted several analysts to cut their price targets.

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UPDATE 3-Air Canada shares close marginally lower after government takes equity stake

UPDATE 3-Air Canada shares close marginally lower after government takes equity stake
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Air Canada shares sink after government aid package takes discounted equity stake

The Globe and Mail
Allison Lampert and Ankit Ajmera
Reuters
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Air Canada AC-T shares sank as much as 6.7% on Tuesday after the carrier nabbed a long-delayed federal aid package that provides access to liquidity but gives the government a discounted stake in the airline.
Several analysts cut their price targets for Air Canada after the deal that was revealed on Monday, which gives the Canadian government a roughly 6% stake in the carrier at a discount of 14%.

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Analysts cut Air Canada's PT after government agrees on equity stake

Analysts cut Air Canada's PT after government agrees on equity stake
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UPDATE 2-Air Canada shares fall after government takes equity stake

UPDATE 2-Air Canada shares fall after government takes equity stake
reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.

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