Have investors lost faith in Paul Tellier? Bombardier (BBD.B : TSX : $4.29), Net Change: -0.26, % Change: -5.71%, Volume: 18,004,500
Have investors lost faith in Paul Tellier? Shares of Bombardier have come under strong distribution since the company announced disappointing Q1F05 results at the end of last month. One trader that we spoke to yesterday speculated that the rising volume was due to U.S. selling. By all accounts, Bombardier’s first quarter was dismal. Excluding the charge and adjustments in transportation, the company barely broken even. As a result, Credit Suisse First Boston believes management’s credibility took a hit in the quarter. The firm has Bombardier rated at an UNDERPERFORM with a $4.75 price target. In the meantime, Canaccord Capital has the company rated a SELL with a $3.50 target price. Does Tellier need more time or does he have an undoable task on his hands?