Bombardier, Inc. Class B (TSE:BBD.B – Get 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.
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
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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