Bombardier Price Target Raised to $143 at DesjardinsBombardier Price Target Raised to $143 at Desjardins 07:00 AM EDT, 06/06/2024 (MT Newswires) -- Desjardins raised its price target on Bombardier Inc. (BBD-B.TO) to $143 from $102 on Thursday.
Analyst Benoit Poirier maintained a Buy rating on shares of the Canadian business jet manufacturer.
S&P upgraded Bombardier's credit rating on Tuesday, following an upgrade from Moody's on May 2.
"While BBD has been a stellar performer within our coverage (+70% year to date), we believe there is further momentum given management's execution and the still attractive valuation versus peers," Poirier said in a note to clients.
"...We now have greater confidence around the sustainability of free cash flow generation, which should lead to an investment-grade credit rating, shareholder distributions and further multiple expansion," the analyst said.