Post by
Lukegermany on Nov 01, 2021 11:29am
I See a 5,25-plus...
Globe says Bombardier elevated to "buy" from "hold" 2021-11-01 09:23 ET - In the News The Globe and Mail reports in its Saturday, Oct. 30, edition that Desjardins Securities analyst Benoit Poirier raised his rating for Bombardier on Friday to "buy" from "hold." The Globe's David Leeder writes that Mr. Poirier also boosted his share target to $2.75, rising from $2.25. Analysts on average target the Class B shares at $2.17. Mr. Poirier believes the risk/reward profile for Bombardier is increasingly "attractive." Mr. Poirier says in a note: "We have been impressed by management's execution of its turnaround plan since the beginning of the pandemic. The business jet sector is supported by strong tailwinds and we applaud management's disciplined approach with respect to production rates, which should enable the company to successfully deliver on its margin expansion initiatives. We applaud management's strategy, especially in the context of global supply chain issues (not a major challenge at Bombardier for now). We are also encouraged that aftermarket services were back to 2019 levels in 3Q for the first time since the beginning of the pandemic. ... Longer-term, we believe the stock could be worth $5.25-plus using a 10-times EV/ EBITDA multiple if management delivers on its 2025 objectives." 2021 Canjex Publishing Ltd. All rights reserved. MobileOldSiteHomeDailyProductsHelpContactUsYourAccountSystemStatus