WestJet Airline VV&V Gets a Buy Rating from Scotiabank

By Ryan Adsit

Wall Street analyst has provided a review for the Services company today, but retained the same rating on the stock. Analyst Turan Quettawala from Scotiabank reiterated a Buy rating on WestJet Airline VV&V (TSX: WJA), with a C$31 price target.

According to TipRanks.com, Quettawala is a 4-star analyst with an average return of 5.1% and a 70.0% success rate. Quettawala covers the Services sector, focusing on stocks such as Union Pacific Corp, Canadian Railway, and Canadian Pacific.

WestJet Airline VV&V has an analyst consensus of Hold, with a price target consensus of C$28.

Based on WestJet Airline VV&V’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of C$1.22 billion and quarterly net profit of C$138 million. In comparison, last year the company earned revenue of C$1.12 billion and had a net profit of C$116 million.

WestJet Airlines Ltd. engages in the provision of passenger air transportation services. It offers scheduled flights, vacation packages, travel insurance, and cargo handling. The company was founded by Clive J. Beddoe, Mark Hill, Thomas W. Morgan, and Donald James Bell in 1996 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$27.16, close to its 52-week high of C$28.