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Bombardier Inc
Symbol BBD
Shares Issued 2,128,027,205
Close 2020-02-18 C$ 1.49
Recent Sedar Documents

Globe says Bombardier elevated to "buy" from "hold"

2020-02-18 07:38 ET - In the News

The Globe and Mail reports in its Saturday, Feb. 15, edition that Desjardins Securities analyst Benoit Poirier upgraded Bombardier to "buy" from "hold" in the wake of Thursday's release of fourth quarter results that fell in line with prerelease figures and 2020 free cash flow guidance that met expectations. The Globe's David Leeder writes that Mr. Poirier elevated his share target to $2.75 from $2.25. Analysts on average target the shares at $1.87. Mr. Poirier says in a note: "We initially downgraded the stock to 'hold' from 'buy' because of the lack of clarity on the potential outcome of the strategic review and our belief that reaching a transaction would take time. Now that we have more visibility on the potential outcome of the strategic review, we are in a better position to assess the value creation that may arise from the divestiture of BT. Our analysis gives us confidence that the acquisition of BT by Alstom would make sense both strategically and accretively. Our analysis also demonstrates that BA would enjoy a decent balance sheet while still trading at an attractive valuation post divestiture. In summary, we are encouraged by the new development with the story and are upgrading the stock."

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