Wolfe Research analyst Myles Walton downgraded Bombardier to Peer Perform from Outperform without a price target. The analyst cites valuation for the downgrade, with the stock approaching the firm’s prior C$73 price target after rising 35% year-to-date Bombardier’s "still likely strong conversion" of backlog is being balanced against softening business jet trends, the analyst tells investors in a research note.
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Published first on TheFly
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