BUZZ-Brokerages cut Bombardier's rating on macro uncertainty, raise PTs
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Brokerages Scotiabank and CIBC have downgraded Bombardier's ratings due to macroeconomic uncertainties, while BMO maintains its rating but raises price targets. Scotiabank cites concerns over declining corporate profits, increased pre-owned inventory, and competition. CIBC acknowledges Bombardier's long-term potential but finds current risk/reward less appealing. BMO highlights growth in defense and aftermarket sectors. New ratings and price targets are: Scotiabank - Sector to Sector, PT C$295; CIBC - Neutral to Outperformer, PT C$290; BMO - Outperform, PT C$300.
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