Bombardier, Inc. Class B (TSE:BBD.B) Price Target Raised to C$82.00

Bombardier, Inc. Class B (TSE:BBD.BGet Rating) had its price objective upped by equities research analysts at Desjardins to C$82.00 in a research note issued to investors on Wednesday. Desjardins’ target price would indicate a potential upside of 146.17% from the stock’s previous close. The business jet manufacturer unveiled solid financial results in the second quarter, said analyst Benoit Poirier of Desjardins Securities.

He believes management’s full-year 2022 guidance is conservative and could be raised again as management delivers what it promised to improve the company’s profit margins.

“We remain optimistic on the short and long-term outlook for Bombardier and recommend that investors reconsider their view of the stock,” he wrote. Bombardier’s stock has fallen sharply since the title’s consolidation, before rebounding just over 10% on Thursday following the publication of financial results.

Benoit Poirier points out that the increase in demand is closely linked to the problems of commercial aviation which are pushing some customers to opt for business jets.

Other equities analysts also recently issued reports about the stock. TD Securities increased their price objective on shares of Bombardier, Inc. Class B from C$60.00 to C$68.00 and gave the company a “speculative buy” rating in a report on Friday, August 5th. Cowen upgraded Bombardier, Inc. Class B to a “buy” rating and set a C$51.85 price objective for the company in a research note on Monday, August 8th. JPMorgan Chase & Co. lifted their price target on Bombardier, Inc. Class B from C$25.00 to C$36.00 in a research note on Tuesday. UBS Group raised Bombardier, Inc. Class B to a “buy” rating and set a C$50.00 price objective for the company in a research note on Wednesday, May 18th. Finally, Barclays upped their target price on shares of Bombardier, Inc. Class B from C$27.00 to C$30.00 and gave the stock a “not updated” rating in a report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$54.97.

Bombardier, Inc. Class B Stock Down 2.4 %

Shares of BBD.B traded down C$0.83 during mid-day trading on Wednesday, reaching C$33.31. The company had a trading volume of 251,437 shares, compared to its average volume of 314,132. The stock has a market capitalization of C$3.13 billion and a P/E ratio of -7.51. Bombardier, Inc. Class B has a 52-week low of C$18.30 and a 52-week high of C$57.00. The stock has a 50 day moving average of C$36.58 and a two-hundred day moving average of C$35.64.

Bombardier, Inc. Class B Company Profile

(Get Rating)

Bombardier Inc, together with its subsidiaries, manufactures and sells transportation equipment worldwide.
Bombardier Inc was incorporated in 1902 and is based in Dorval, Canada.

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Analyst Recommendations for Bombardier, Inc. Class B (TSE:BBD.B)

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