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Bombardier Kept at Outperform by BMO Capital Markets on Strong Aircraft Deliveries, Backlog

MT Newswires ·  {{timeTz}}

11:10 AM EDT, 06/27/2022 (MT Newswires) -- BMO Capital Markets on Monday reiterated its outperform rating on the shares of Bombardier (BBD.B.TO) with a C$63.00 price target on higher aircraft deliveries and a strong order backlog.

"Bombardier in-service fleet of aircraft saw significant increases in flight activities in Q2/22," analyst Fadi Chamoun said in a note. "Deliveries of mid/large cabin aircraft increased in Q2/22 and are expected to accelerate in H2/22 and 2023 supported by a strong backlog, which we believe has expanded further in Q2/22. The strength in orders has also afforded BBD the ability to retire more debt and strengthen its financial position. While macro uncertainty continues to weigh on valuation in the immediate-term, BBD is executing well against its self-help opportunities and the company is on more solid footing."

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here:

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