Bombardier price target raised to C$167 from C$140 at CIBC

CIBC analyst Kevin Chiang raised the firm’s price target on Bombardier (BDRBF) to C$167 from C$140 and keeps an Outperformer rating on the shares. The firm does expect any major guidance revisions from the waste sector or aviation and aerospace names under coverage, the analyst tells investors in a research note. The firm says demand trends in Q2 have held better than feared as Canadians continued to travel, business aviation trends remain healthy, and the outlook for defense spending has improved, CIBC argues.