Double in a Year not an Irrrational Price TargetConsider that American Airlines sells at a PE discount to the S&P of35%, Air Canada at a double ($28) would sell at a 59% discount to the S&P TSX 300 Looking at it from a different point of view, assume that AC by the 4th quarter of 2017 pays a dividend with a 25% pay-out ratio of 2017 earnings of $4.25 or $1,06 per share. At $28 ,it would yield 3.80%, not an unreasonable level. Considering that the stock is lower to-day than it was 18 months prior. a catch-up year should not be a surprise, Hence my target for year-end 2017 is a DOUBLE or $28.