Bombardier Inc. T.BBD.A

Alternate Symbol(s): T.BBD.B | T.BBD.PR.B | T.BBD.PR.C | T.BBD.PR.D | BDRPF | BOMBF | BDRXF | BDRAF | BDRBF

Industrials Aerospace & Defense

Bombardier Inc. is a Canada-based manufacturer of business aircraft with a global network of service centers. The Company is focused on designing, manufacturing and servicing business jets. The Company has a worldwide fleet of more than 5,000 aircraft in service with a variety of multinational corporations, charter and fractional ownership providers, governments and private individuals. It operates aerostructure, assembly and completion facilities in Canada, the United States and Mexico. Its robust customer support network services the Learjet, Challenger and Global families of aircraft, and includes facilities in strategic locations in the United States and Canada, as well as in the United Kingdom, Germany, France, Switzerland, Austria, the United Arab Emirates, Singapore, China and Australia. The Company's jets include Challenger 350, Challenger 3500, Challenger 650, Global 5500, Global 6500, Global 7500 and Global 8000.

TSX:BBD.A - Post by User

Bombardier Inc.

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Post by anon314on Nov 25, 2015 5:27pm

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Post# 24325977

RBC CM Research Summary 2015.11.25

Bombardier Inc. (BBD.B) - $1.18 – New Management Unveils Strategic Vision
RBC CM: Outperform Speculative Risk (PT $2)
RBC CM attended Bombardier’s Investor Day in New York City. Following an extensive review, management laid out new mid and long-term goals - targeting $25B revenue on 7%-8% EBIT margins by 2020. The key is that management provided specific details on a segmented basis as to how they were going to achieve these goals, which RBC CM sees as both realistic and achievable. On the de-risking side, the focus remains on improved liquidity; which has largely been achieved through recent capital raises and financing structures set to provide ~$6.5B in year-end proforma 2015 liquidity. With liquidity largely taken care of, the focus has begun to shift towards rebuilding. As capex ramps down, cost initiatives take hold, and new products are launched, management sees 2018 as a positive FCF year. RBC CM’s conversations with the new management team following the formal presentations, confirmed that their goal was to provide investors with attainable targets; clearly distancing themselves from previous unattainable goals set out by the company in prior years.