10:30 AM EDT, 04/05/2024 (MT Newswires) -- RBC Capital Markets on Thursday noted CAE Inc. ( CAE ) 's appointment of Jason Goodfriend as president of the company's defense and security segment.

Goodfriend replaced Daniel Gelston, who will remain at CAE in a supporting capacity through May.

RBC noted Goodfriend joined CAE in January 2023 as COO for the defense and security business unit.

According to RBC, the appointment "will be viewed positively given recent challenges in the segment".

"Longer-term, important will be who is eventually appointed to lead the Defense business. Our view is that issues in defense have been operational, and that having an operations focused leader will be important to accelerate margin improvement," RBC said.

RBC has on CAE an outperform rating with a $34.00 price target.

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