
Analysts at TD Cowen today issued a report on their best Canadian stock ideas and on the list was Bombardier (Bombardier Stock Quote, Chart, News, Analysts, Financials TSX:BBD.B)
As reported by The Globe and Mail, analyst Tim James September 30 maintained his “Buy” rating and price target of $129.00 on Bombardier.
“We believe Bombardier is transitioning from a turnaround story to a re-rating story,” the analyst wrote. “We believe a re-rating is warranted given significant operational and financial progress made by the new management team from 2020 through Q2/24, our 2-3 year forecast growth, and expectations for further deleveraging, revenue diversification, and returning capital to shareholders beyond 2025.”
On July 25, BBD.B reported its Q2, 2024 results. The company posted Adjusted EBITDA of $335-million on revenue of $2.2-billion, a topline that was up 32% year-over-year.
“The entire Bombardier team is consistently performing at an extremely high level,” CEO Eric Martel said. “As the company enters the fourth year of our journey centred on business aviation, our being able to post double-digit growth year over year underscores our focused business model, the strength of our plan and the team’s unwavering ability to execute. “We continue to demonstrate our unique expertise and ingenuity when it comes to maintaining the industry’s strongest track record for managing the supply chain. I am proud that we have, time and again, proven our agility, resilience and ability to thrive in all environments we face, which has kept us on track to meet full-year guidance.”
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