Globe says Tyerman hikes Air Canada target to $202015-06-04 07:08 ET - In the News The Globe and Mail reports in its Thursday, June 4, edition that Canaccord Genuity analyst David Tyerman has reiterated his "buy" on Air Canada ($14.50), while elevating his target to $20 from $17. The Globe's David Leeder writes in the Eye On Equities column that Mr. Tyerman sees Air Canada delivering "meaningful growth" until at least 2019. Air Canada said this week it exceeded targets set in 2013 for cost reduction, return on invested capital, profit margin and debt ratio. Accordingly, it adjusted its goals, including the desire to drop its costs per available seat mile by 21 per cent by the end of 2018 from 2012 results. Mr. Tyerman was encouraged by "good mid-term opportunities" from the airline's major initiatives, including growth in the Rouge network, international growth spurred by its new B787 aircraft and new priorities, such as a revamped revenue management system, a renegotiated capacity purchase agreement with Chorus Aviation and refleeting. Analysts on average target Air Canada shares at $18.23. Meantime, BMO Nesbitt Burns analyst Fadi Chamoun boosted his share target $16 to $18. Macquarie's Konark Gupta also raised his target by two dollars from $15 to $17.