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Bombardier Price Target Raised to C$320 at TD

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TD Securities raised its price target on Bombardier (BBD-B.TO) to C$320 from C$306 on Friday.

Analyst Tim James maintained a Hold rating on shares of the Canadian aircraft manufacturer following its Q2 results on Thursday.

Class B shares declined 7.9% by the close Thursday to C$330.01 on the Toronto Stock Exchange.

"Q2 was strong on many fronts and supports our view of the solid fundamentals," James said in a note to clients. "Given recent valuation multiple expansion to unprecedented levels, we would not be surprised to see profit taking and moderation in the multiple despite good results."

(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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