Scotia Target - $5.50BBD shares got some love after Q4 results met expectations, management maintained 2019 guidance and things seem to be stabilizing at BT. We expect that volatility will likely remain for now as it will take more than one decent quarter to overcome the trust deficit. Nonetheless, things are incrementally better, in our view. The fact that the business jet market remains stable is a positive as it gives BBD time to complete the turnaround. We remain positive on the name as it is massively discounting concerns around BT FCF. We expect shares to outperform as the risks around BT dissipate, focus turns to 2020 results and BBD refinances 2020 maturities.