Bombardier's Backlog, Order Momentum Seen Carrying into 3Q
Dow Jones10-15
1116 ET - Bombardier's fundamentals are strong and a recent pullback has brought the stock to an attractive level, according to Cameron Doerksen of National Bank of Canada. The analyst says that the company has a healthy backlog of $21.8 billion, with new jet order activity still robust going into 3Q. The jet maker is expected to show "solid aftermarket growth while the Defense segment backdrop remains highly positive." Doerksen raises the stock's rating to outperform from sector perform, but lowers the price target to C$360 from C$379. Shares are trading 4% higher at C$301.50, and are up 29% year-to-date.
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