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In a research report published on Tuesday, Richard
Stoneman, analyst at Dundee Securities Corp., said investors
focusing on the slow pace of regional jet deliveries at
Bombardier, the world's third-largest civil aircraft maker and
No. 1 maker of trains, "are missing the recovery in the
aerospace markets".
"In our view, Bombardier's aircraft deliveries should be
equal to, or slightly higher than last year, with margins
improving in the second half, from better pricing and economies
of scale," Stoneman wrote.
He increased his per share profit estimate for Bombardier's
fiscal 2006 by 2 cents to 12 cents and bumped up his estimate
for fiscal 2007 by 5 cents to 25 cents.
Stoneman also increased his one-year price target for the
shares to C$4 from C$3.50.
On Monday, CIBC World Markets analyst technical analyst
Larry Berman wrote in a research report that there are signs of
a "longer-term bottom" in Bombardier stock, although in the
short term it may be overbought.
A technical analyst published by Genuity Capital Market on
Monday suggested higher price targets were "visible" for
Bombardier shares as they moved above the key level of C$3 last
week.
Last week, UBS Investment Research analyst Peter Rozenberg
raised his rating on Bombardier stock to "neutral" from
"reduce."
Rozenberg cited what he said appeared to be a more stable
earnings per share outlook at Bombardier, largely through cost
control measures, but he did not change his overall view of the
aerospace industry.
Rozenberg maintained his fiscal 2006 per share profit
outlook for Bombardier at 11 cents, but raised his fiscal 2007
outlook to 17 cents from 14 cents.
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