BDRBF - Bombardier upped at CIBC Scotiabank as investor day shows goals progress

Bombardier (OTCQX:BDRBF +1.7%) bounces higher following two analyst upgrades after the planemaker's investor day event on Thursday showed progress in meeting its 2025 goals. CEO Eric Martel said the company is on pace to reach targeted revenues of $7.5B, earnings of $1.5B and free cash flow of $500M by 2025, after 2021 results came in at $6.1B in revenues, $600M in earnings and $100M in free cash flow. Bombardier also said at the event that it is on track to reach the goal of $2B in aftermarket revenues by 2025, after the business' revenues in Q4 2021 jumped to $363M, up 44% from Q4 2020 and 17% higher than in Q4 2019. CIBC analyst Kevin Chiang upgraded Bombardier shares to Neutral from Underperform with a C$1.80 price target, up from C$1.70, noting the company shaved $3B from its debt levels in 2021. Also, Scotiabank's Konark Gupta raised shares to Sector Outperform

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Bombardier upped at CIBC, Scotiabank as investor day shows goals progress