TSX:BBD.A - Post Discussion
Post by
Shamhorish on Aug 05, 2024 8:16pm
BBD IS ONE OF 7 Growth Stocks to Buy With $1,000
Bombardier (OTCMKTS:BDRBF) designs and manufactures business jets for corporations, governments, and wealthy individuals. The Canadian aerospace company has been on a roll lately, with its stock price surging over 78% so far in 2024. I believe Bombardier is well-positioned to benefit from the ongoing boom in private aviation and increased defense spending.
In the first quarter, Bombardier grew its order backlog to $14.9 billion. The company also expanded margins and is on track to deliver 150-155 aircraft this year, up from 138 in 2023. Bombardier’s high-margin aftermarket service revenues jumped 13% year-over-year in Q1.
Analysts are quite bullish on the stock, with 8 out of 11 rating it a “Buy.” I personally believe that this stock could cross $100.
Last week, Bombardier reached a new 3-year labor deal with its union, ending an 18-day strike. The company is also doing its part for the environment, installing thousands of solar panels to slash emissions at its London service center. Thus, the company looks poised to hit its 2025 targets of $9 billion in revenue and $1.6 billion in EBITDA, making it among the best growth stocks to buy.
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