Desjardins Forecasts Strong Price Appreciation for Bombardier, Inc. Class B (TSE:BBD.B) Stock

Key Points

• Desjardins raised its price objective on Bombardier Class B to C$324 (from C$304) and maintains a "buy" rating, implying about a 12.78% upside.
• Several other brokers (UBS, BMO, CIBC, Scotiabank) also lifted targets or upgraded ratings, but the MarketBeat consensus remains a "Hold" with a consensus target of C$278.08.
• Shares traded around C$287.29 midday (market cap ~C$28.44B), above the consensus target and close to the 12‑month high of C$297.42, with a PE ratio of 32.10.

Bombardier, Inc. Class B (TSE:BBD.B - Get Free Report) had its price objective raised by equities researchers at Desjardins from C$304.00 to C$324.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price objective suggests a potential upside of 12.78% from the company's current price.

BBD.B has been the subject of several other reports. Canadian Imperial Bank of Commerce lifted their price target on shares of Bombardier, Inc. Class B from C$288.00 to C$295.00 in a report on Friday. UBS Group lifted their price objective on shares of Bombardier, Inc. Class B from C$253.00 to C$315.00 in a research report on Friday. Scotiabank upgraded shares of Bombardier, Inc. Class B from a "sector perform" rating to a "sector outperform" rating and lifted their price objective for the company from C$295.00 to C$305.00 in a research report on Friday. TD Securities lifted their price objective on shares of Bombardier, Inc. Class B from C$276.00 to C$280.00 and gave the company a "hold" rating in a research report on Friday, February 13th. Finally, BMO Capital Markets boosted their price target on shares of Bombardier, Inc. Class B from C$300.00 to C$320.00 in a research report on Friday. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of C$278.08.

Bombardier, Inc. Class B Trading Down 0.5%

BBD.B stock traded down C$1.35 during mid-day trading on Friday, hitting C$287.29. 328,692 shares of the company were exchanged, compared to its average volume of 368,279. The company has a market capitalization of C$28.44 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 6.26 and a beta of 1.80. Bombardier, Inc. Class B has a twelve month low of C$81.02 and a twelve month high of C$297.42. The firm has a fifty day simple moving average of C$254.31 and a 200 day simple moving average of C$237.17.

About Bombardier, Inc. Class B

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.