Bombardier Inc. T.BBD.A

Bombardier

[Steve759]

Bombardier Maintained at Outperform at BMO on a Strong 2023; Price Target Kept at C$85.00 2024-01-08 11:34:32 AM ET (MT Newswires)

11:34 AM EST, 01/08/2024 (MT Newswires) -- BMO Capital Markets on Monday reiterated its outperform rating on the shares of Bombardier (BBD-B.TO) and its C$85.00 price target on expectations the aircraft manufacturer met or bettered its 2023 guidance.  "We believe BBD finished 2023 on strong footing, achieving or exceeding its financial targets. We expect BBD to guide to another strong performance in 2024 supported by a strong backlog, generally stable demand environment, and continued expansion in aftermarket segment revenues. We anticipate another $1b in debt reduction by 2025 (~$10/share) from improving free cash flow, which further lowers the interest cost burden and puts the financial leverage under 2x. Stock trades at 4.3x EBITDA on 2025 versus roughly 10.0x for peers and offers significant upside potential in our view," analyst Fadi Chamoun wrote. (MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us) Price: 52.46, Change: +0.49, Percent Change: +0.94