CAE Inc. (CAE) Receives a Buy from Scotiabank

By Jason Carr

Yesterday, an analyst has provided a rating update for the Consumer Goods sector company, CAE Inc. (CAEResearch Report). Analyst Turan Quettawala from Scotiabank reiterated a Buy rating, with a C$31.50 price target.

According to TipRanks.com, Quettawala is a 3-star analyst with an average return of 1.9% and a 62.4% success rate. Quettawala covers the Services sector, focusing on stocks such as WestJet Airlines Ltd, Union Pacific Corp, and Canadian Railway.

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CAE Inc. has an analyst consensus of Moderate Buy, with a price target consensus of C$29.58.

Based on CAE Inc.’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of C$60.7 million. In comparison, last year the company earned revenue of C$646 million and had a net profit of C$65.2 million.

CAE, Inc. engages in the provision of simulation and modeling technologies and training services to the civil aviation, defense and security, and healthcare markets. It operates through the following segments: Civil Aviation Training Solutions, Defence and Security, and Healthcare.

The company’s shares closed on Monday at C$26.80.