RE:RE:RE:CIBC: A Neutral ratingHi Temp.
I'm not adverse to reading every Banks analysis either. I just don't always agree with their Price Targets. Some are very conservative because they don't want egg on their face, from the PAST shenanigans of PB's Bombardier. I don't blame them. I still smart from his outright lying. Though I will say that, this company has transformed to a winning outfit. So I hope we're past that game playing. I think it's a tribute to EM & BD. My understanding of the reading the statements is that we are still, quite a bit behind with having some equity as shareholders of the B's. I think we'll take, till 2025, to even get to that Equity range. But that's not out of range. As for the Investment Grade title? I don't know if that's achievable in the next 3 years or even further. Though I do say that, if Bart shoots for that, we'll get close to it, in 2027ish. I think these guys are the real thing, and if they're left alone, they'll succeed. Today's announcement of the redemption ($610M) was more than I expected, and sooner than I expected. Though it was smart timing wise. for this SP attack. They covered their AZZ by saying that they could renegotiate some of it, or all of it, depending on proceeds from Q4/23. I'm not sure why they're going after the 2027@7.15% though, unless they think they can get a lower rate. Maybe, there are lenders lining up to lend to them at cheap rates? So we'll see, how this will unfold. I'm sure as to why, but, they have their reasons. Remember they have INSIGHT on everything including Margins, Backlog, even short, to long term, B/B ratios, They also have insight on R&D, and Capex, that we, as Investors, have no idea about. We (Investors) can only guess until we see the achievements. So having said that, I think this SP is heading to $125 range faster than the Analysts think. Why? Well, they're 1 full year ahead with LTD, Revs, Margins targets, etc, on their 5 Year Plan. I just hope that the market reacts quick enough, to give them credit for that. If these MM's stop the heavy shorting for a full year till the end of 2024, where we can see all these accomplishments, then we have a chance at reaching $125 SP by the end of 2024. Though the SP, is probably not the MM's plight, where as liquidity is. I Just hope that they're not too friendly with the Banks, that want to short this constantly. This is probably a pretty idealistic thing, on my part given the CESSPOOL of Excahanges out there. Though it is posible that, they could put the Share price in the position where the Shorting isn't in the 45% to 50% reduction of the SP, every time they short. Cheers