Bombardier Cl A MV Receives a Buy from RBC Capital

By Austin Angelo

Wall Street analyst has provided a review for the Materials company yesterday, but retained the same rating on the stock. Analyst Walter Spracklin from RBC Capital reiterated a Buy rating on Bombardier Cl A MV (TSX: BBD.A), with a C$3 price target.

According to TipRanks.com, Spracklin is a top 100 analyst with an average return of 18.7% and a 74.6% success rate. Spracklin covers the Services sector, focusing on stocks such as Kansas City Southern, Magna International, and Union Pacific Corp.

Currently, the analyst consensus on Bombardier Cl A MV is Strong Buy and the average price target is C$3, representing a 23.5% upside.

In a report issued on May 26, BMO Capital also upgraded the stock to Buy with a C$2.75 price target.

Based on Bombardier Cl A MV’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$4.73 billion and GAAP net loss of C$37.06 million. In comparison, last year the company earned revenue of C$5.38 billion and had a GAAP net loss of C$221 million.

Bombardier, Inc. manufactures planes and trains. It operates through the following segments: Business Aircraft; Commercial Aircraft; Aerostructures and Engineering Services; and Transportation. The Business Aircraft segment designs, manufactures and provides aftermarket support for three families of business jets, spanning from the light to large categories. The Commercial Aircraft segment designs and manufactures a broad portfolio of commercial aircrafts. The Aerostructures and Engineering Services segment designs and manufactures major aircraft structural components such as engine nacelles, fuselages and wings and provides aftermarket component repair and overhaul as well as other engineering services for both internal and external clients. The Transportation segment offers the broadest portfolio in the rail industry and delivers innovative products and services that set new standards in sustainable mobility. Bombardier was founded on June 19, 1902 and is headquartered in Montreal, Canada.

The company’s shares closed last Friday at $2.43.