SIA Wealth Management chief market strategist Colin Cieszynski says Bombardier (Bombardier Stock Quote, Chart, News, Analysts, Financials TSX:BBD.B) remains the top-ranked stock in the firm’s Canadian relative strength universe.
Speaking on BNN Bloomberg’s Market Call on July 15, Cieszynski said Bombardier is held in SIA-managed portfolios, including the BMO SIA Canadian ZFC portfolio.
“It’s done really well,” Cieszynski said.
The investor said aerospace and defence stocks often move together, but the two groups have diverged in recent months. Defence names weakened as investors reacted to peace talks and ceasefire discussions, while aerospace stocks continued to strengthen.
“The aerospace side has kept right on going, and Bombardier’s doing really well,” Cieszynski said.
He also pointed to strength in other aerospace names, including Exchange Income.
The stock was up 97.14% over the previous 12 months. Of the analysts covering the stock, eight rated it “Buy,” six rated it “Hold” and one rated it “Sell,” with a consensus target of $325.36.
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