AC undervaluedAccording to Scotia Capital analyst Konark Gupta, Air Canada is a " deep value stock " and called it " one of the most compelling opportunities " in his coverage universe. Target $29, keeping a " sector outperform " recommendation. " We view Air Canada as our top contrarian pick as earnings, cashflows and leverage ratio are either marching toward and exceeding pre-pandemic levels, while valuation remains highly attractive relative to history and peers. " It's only a question of time before this is recognized by the markets.