The Montreal specialist in flight simulators and pilot training CAE lost two seats on Bay Street during the week.
Analysts Benoit Poirier, at Securities Securities Desjardins, and Matthew Lee, at Canaccord, no longer recommend buying the stock. CAE.
The company announced a significant write-down of its defense business on Tuesday and Lee said management will need to regain investor confidence in the sector, which could take time given the opacity of the business. and the difficulty in driving margin growth.
Benoit Poirier, for his part, withdrew his purchase suggestion on Monday – the day before CAE’s announcement – saying he saw better opportunities to deploy capital elsewhere. CAE will release its year-end performance after markets close on Monday. Now 8 out of 12 analysts suggest buying the stock.
Bank of America made a 180 degree turn with Bomber mid-week. Analyst Ron Epstein withdrew his sell recommendation and now suggests buying the stock. Redoing his calculations, his target of $52 over a 12-month horizon increases to $120. He suddenly becomes the most optimistic analyst – by far – about Bombardier on Wall Street and Bay Street.
“The mountain has been climbed, why not enjoy the view?” », he asks in his note published Wednesday. He previously compared Bombardier’s challenge to climbing Mount Everest because of the turnaround required.
Stressing that the demand for business jets continues to support the Montreal company’s strategy, he believes that Bombardier is well positioned to take a greater share of the market for after-sales service activities (support and maintenance).
Lightspeed won the support of CIBC this week. Since Thursday, analyst Todd Coupland has been recommending the purchase of the shares of the Montreal provider of technological solutions for merchants. This expert says he is more confident in the potential of Montreal fintech after listening to the company’s financial director talk about growth and margin expansion during a mid-week conference.
The action of Gildan continues to achieve almost unanimous support on Bay Street after the wholesale resignation, Thursday evening, of all the members of the board of directors. Eight of the nine analysts who officially follow the title of the Montreal clothing manufacturer still recommend buying the stock, according to information collected by the financial data firm Refinitiv.
Analysts and investors will know the strategic plan of the new CEO of the company on Friday Bank Laurentian. This plan should help to better understand what kind of organization the financial institution will become. And above all, this plan should help to better assess the bank’s potential and the value of its stock. Éric Provost has been trying to further simplify the organizational structure since the fall. Its plan must allow the bank to focus on areas in which it believes it can “win” in order to increase its competitiveness.
A manager at Boralex bought blocks of shares in the Quebec renewable energy producer this week. Senior vice-president, synergies and special projects, Julie Cusson, purchased a total of 800 shares during Tuesday’s session at prices ranging between $31 and $32.
The New York Stock Exchange and NASDAQ will remain closed on Monday to mark the Memorial Day holiday in the United States.
Quebec titles of Héroux-Devtek, Stella-Jones, iA Financial Group, 5N Plus, Aya Gold & Silver, ADF Group, Bomber And Dollarama all hit a 52-week high this week on the Toronto Stock Exchange.
On the other hand, those of MTY Group, CAE, Bausch Health, GDI, MolsonCoors And D-Box reached a 52-week low this week.