GLTAL... 10:33 AM EST, 01/13/2023 (MT Newswires) -- National Bank said Thursday that it has raised its price target on Bombardier Inc. (BBD-B.TO) to $65 from $61 and maintained its outperform rating as 2023 visibility "looks solid."
The company's shares rose 2% on last look on Friday.
"Q4 jet deliveries look to have fallen short of our expectations, but we are still confident Bombardier can deliver 15-20% more jets in 2023, and we believe there is good visibility on this increase," the analysts said.
"Higher deliveries should drive increased revenue and margins, which will be further supported by the full-year impact from the company's cost reduction initiatives," the analysts added.