RE:RE:Cashing OutNot hard to get there really - particularly because BBD trades at such a discount to peers. If defense contribution becomes more meaningful, can see a rerating from the 7x EBITDA today, to closer to GD/TXT low-teens levels at, say, 9x. Take mgmt.'s 2025 target of $1.625bn aEBITDA, at 9x = USD 14.6bn EV. If you say they'll be 2x levered by then (a bit better than mgmt. guidance for <2.5x, but makes sense with the cash flow generated by that level of EBITDA), that's USD 11.4bn market cap / ~CAD15.6bn. On current share count that's a $159 price per share.