The Globe and Mail reports in its Friday, Nov. 7, edition that Scotia Capital analyst Konark Gupta continues to rank Air Canada "sector outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Gupta knocked his share target back by a loonie to $26. Analysts on average target the shares at $25.07. Mr. Gupta says in a note: "Air Canada delivered a slight EBITDA miss in a labour-impacted Q3 but once again significantly beat FCF expectations. Full-year guidance was slightly tweaked (positive), but, more importantly, total 2025-2029 capex was reduced by $740-million, not related to potential sale/leaseback. While we wait for 2026 guidance, it appears that capacity growth could exceed 5 per cent as Air Canada receives a record number of aircraft, and margin could expand slightly despite CASM [cost per available seat mile] inflation in a fairly stable fuel/FX environment. FCF should ramp up heading into 2027 as capex plateaus and earnings rebound. Stock's continued attractive valuation at 3.7 times EV/EBITDA on 2026E should enable Air Canada to execute on the renewed NCIB for up to 30 million shares, possibly at a more gradual pace than last time, in our view."