CAE price target raised to $37 from $33 at BofA

BofA analyst Ronald Epstein raised the firm’s price target on CAE to $37 from $33 and keeps a Neutral rating on the shares. CAE’s civil business momentum continued with 1Q24 revenue up 13% y/y, and utilization rates at 78% vs. 71% in 1Q23, and BofA expects this trend to continue given air travel demand remains strong across the U.S. and EMEA, and is rapidly recovering in Asia, the analyst tells investors in a research note.