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Investing.com - BMO Capital has raised its price target on Bombardier (TSX:BBD.B) (OTC:BDRBF) stock to C$190 from C$185 while maintaining an Outperform rating.
The price target increase follows discussions between BMO Capital and Bombardier’s President and CEO Eric Martel regarding the business aviation market outlook and the company’s strategic priorities.
BMO Capital noted it has "greater confidence in the trajectory of earnings, FCF conversion, leverage, and ROIC" for Bombardier following these discussions.
The firm highlighted Bombardier’s capital allocation framework as a key topic, noting the company is "on the cusp of beginning to produce strong and steady FCF going forward."
Bombardier, a Canadian business jet manufacturer, continues to hold an Outperform rating from BMO Capital, reflecting the firm’s positive outlook on the company’s future performance.
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