BMO Capital Markets on Thursday reiterated its outperform rating on the shares of Bombardier (BBB-D.TO) while raising its price target to C$95.00 from an undisclosed prior level following guidance from the aircraft manufacturer.
"Bombardier reaffirmed and expressed a high degree of visibility/conviction in its F2025 financial targets. Management presented a path to another $2-4b of revenue growth opportunities over the medium term, primarily in above-average margin segments, such as Defense and Services. More importantly, BBD indicated that it does not contemplate investing in a clean sheet aircraft before 2030 and that investments will focus on upgrades/derivatives based on existing platforms, which we view as an important de-risking of future cash flow. We raise our target price to $95 and reiterate our Outperform rating," analyst Fadi Chamoun wrote.
GLTA
Snowey.