| 08:16 AM EDT, 05/28/2024 (MT Newswires) -- TD Securities raised its price target on Bombardier Inc. (BBD-B.TO) to $127 from $105 on Tuesday. Analyst TIm James maintained a Buy rating on shares of the Canadian business jet manufacturer. "Since late-2022, we have held the view that Bombardier's financial progress and expected results would eventually lead to a transition from a turnaround story to a multiple expansion story," James said in a note to clients. "Based on results through Q1/24, the May investor day, cyclical factors, and the share price response, we believe transition has started," the analyst said. "We view the business jet cycle positively due to recent backlog growth, restrained OEM production rates, secular trends, and other factors," James said. "We believe more economically resilient aftermarket and defence revenue should increase through the end of the decade and offer upside potential of C$30-C$80/share." |