Desjardins Reiterates Their Buy Rating on Bombardier Cl A MV

By Jason Carr

In a latest note to investors, a research analyst has provided a rating update for the Materials sector company, Bombardier Cl A MV (TSX: BBD.A). Analyst Benoit Poirier from Desjardins rated Bombardier Cl A MV (TSX: BBD.A) a Buy on on June 13, setting a C$3 price target.

According to TipRanks.com, Poirier is a 5-star analyst with an average return of 8.4% and a 66.5% success rate. Poirier covers the Services sector, focusing on stocks such as Canadian Railway, Canadian Pacific, and Stantec Inc.

Currently, the analyst consensus on Bombardier Cl A MV is Strong Buy and the average price target is C$3, representing a 22.4% upside.

In a report issued on June 9, RBC Capital also reiterated a Buy rating on the stock with a C$3 price target.

The company has a one year high of C$2.85 and a one year low of C$1.76. Currently, Bombardier Cl A MV has an average volume of 104.3K.

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 Thursday at $2.45.