Bombardier Inc. (BBDB:TSX) Delveries to Jump this year, Analysts rate as”Buy”

Bombardier

Bombardier Inc, a Canadian aircraft manufacturer, has predicted a rise in business jet deliveries for 2023, despite supply-chain problems expected to continue this year. The company forecasts delivering more than 138 jets in 2023, compared to 123 delivered in the previous year. The rise in deliveries can be attributed to strong demand for private flying, which has lifted the company’s quarterly results beyond expectations.

Despite economic headwinds, CEO Eric Martel believes that demand for Bombardier’s products remains resilient. Business jet makers’ backlogs have swelled in the last two years due to sustained demand since the height of the COVID-19 pandemic. However, private jet traffic, while still above 2019 levels, is expected to level off this year, as low inventory of pre-owned planes for sale creeps up.

In addition to the rise in deliveries, Bombardier also reported a backlog of $14.8 billion at the end of 2022, up $2.6 billion. The company’s book-to-bill ratio, which measures the number of orders received to the number of units shipped and billed, was 1.4. The company has forecast 2023 revenue of more than $7.6 billion, with free cash flow expected to surpass $250 million, compared to last year’s $735 million.

For the fourth quarter, Bombardier reported an adjusted profit per share of $2.09, compared to expectations of 63 cents. The CEO also made a fresh case for Bombardier to be included in any plans by Canada to buy reconnaissance jets. Last year, Martel voiced concerns that such a contract could go directly to US planemaker Boeing Co.

Despite supply-chain problems, Bombardier is forecasting a rise in business jet deliveries for 2023, due to strong demand for private flying. The company has reported a backlog of $14.8 billion and is forecasting 2023 revenue of more than $7.6 billion. Despite economic headwinds, CEO Eric Martel believes demand remains resilient and is making a case for Bombardier to be included in Canada’s plans to buy reconnaissance jets.

BBD-B Stock Price Forecast & Analysis

Bombardier Inc is a Canadian aerospace and transportation company. Based on the forecasts from 17 analysts, the average target price for Bombardier Inc’s stock over the next 12 months is CAD 57.84, which suggests that the analysts expect the stock price to decline. This average target price is based on the individual targets set by each analyst who covers the stock.

The average analyst rating for Bombardier Inc is “Buy”, which means that the majority of analysts who cover the stock have a positive outlook on it and expect it to perform well in the future. However, it’s important to note that analyst ratings and target prices are just opinions and are not a guarantee of future performance.

Stock Target Advisor, a stock analysis website, has a slightly bearish rating for Bombardier Inc, based on a combination of positive and negative signals. According to their analysis, there are 3 positive signals and 6 negative signals, which may indicate a less optimistic outlook for the stock compared to the average analyst rating of “Buy”.

At the last closing, Bombardier Inc’s stock price was CAD 68.08, which is higher than the average analyst target price of CAD 57.84. The stock price has seen significant changes over the past year, with a weekly change of +4.35%, a monthly change of +23.80%, and an annual change of +61.14%. These changes may be due to a variety of factors such as the overall performance of the company, industry trends, and market conditions.

While the average analyst rating for Bombardier Inc is “Buy”, it’s important to consider the opinions of multiple analysts and other factors when making investment decisions.

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