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Investing.com - BMO Capital raised its price target on Bombardier Inc (TSX:BBDb). (TSX:BBD.B) (OTC:BDRBF) to C$150 from C$130 while maintaining an Outperform rating, citing a significant new aircraft order and healthy market conditions.
The price target increase follows Bombardier’s announcement on June 30 of an order for 50 aircraft, which BMO Capital noted "underscores healthy market" conditions and "further solidifies the outlook" for the Canadian business jet manufacturer.
BMO Capital highlighted that the business aviation cycle "remains on firm footing" and pointed to a "very robust" defense market that should support "continued strong demand going forward" for Bombardier’s products.
The investment firm raised its free cash flow forecast for Bombardier and shifted its valuation base forward to the second half of 2026 and first half of 2027, supporting the higher price target.
Bombardier shares trade on the Toronto Stock Exchange under the ticker BBD.B and are also available to U.S. investors through the over-the-counter market under the ticker BDRBF.
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