01:39 PM EDT, 06/03/2024 (MT Newswires) -- BMO has raised its one year target on Bombardier to $129 (from $95) and reiterated its Outperform.

Over the past week, BMO hosted Bombardier for a series of meetings with institutional investors. "We walk away from these discussions with increased confidence in the positive outlook for the business aviation cycle," writes analyst Fadi Chamoun.

Chamoun also sees material upside potential for valuation over the medium term as the company further reduces leverage, organically diversifies/grows revenues and profitability, and initiates distributions to shareholders likely starting 2026.

Price: 91.92, Change: +0.17, Percent Change: +0.19