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North America’s Best Airline Stock Is Also the Cheapest

Despite a 60% surge this year, Air Canada is still a bargain

Air Canada has outperformed all of its North American airline peers in 2017, soaring 60 percent compared with an increase of 3.2 percent for the S&P 500 airlines sub-index. For all its gains, Air Canada remains the cheapest airline stock in North America, with a price-to-earnings ratio of just 6.1, compared with 11.4 for competitor WestJet Airlines Ltd. and 15.7 for Southwest Airlines Co. The company’s strong earnings outlook, including a forecast boost Tuesday, are "far from being factored into the current Air Canada valuation," TD Securities analyst Timothy James wrote in a recent note.

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