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Bombardier Price Target Raised to $364 at Desjardins

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Desjardins raised its price target on Bombardier Inc. (BBD-B.TO) to $364 from $324 on Wednesday.

Analyst Benoit Poirier maintained a Buy rating on shares of the Montreal-based business jet manufacturer.

"Overall, we believe the Street underestimates BBD's capabilities to drive US$13.5 Billion+ of revenue and EBITDA of US$2.5 Billion+ in 2030, driving a potential value of $506/share," Poirier said in a note to clients.

"We expect strong FCF generation to reduce leverage to -1.0x (now at 1.8x), which could unlock ~US$7.5 Billion in incremental borrowing capacity, providing meaningful strategic optionality," the analyst said.

"Bottom line, we still like the stock."

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