BofA double upgraded Bombardier to Buy from Underperform with a price target of C$120, up from C$52. Bombardier has “navigated its way through a turbulent turn-around,” which notes that BizJet aviation activity remains above 2019 levels and sees this supporting Bombardier’s near-term strategy. With Bombardier now focused on harvesting its installed base, growing its aftermarket business, and remaining disciplined on capital deployment, the firm sees opportunities for potential upside, the analyst added.
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