CAE upgraded at CIBC on ‘increasing optimism’ about EPS growth

As previously reported, CIBC upgraded CAE (CAE) to Outperformer from Neutral with a price target of C$44, up from C$38, after the company recently announced the appointment of Matthew Bromberg as President and CEO. The firm expects CAE will provide more granular detail around the drivers of its long-term earnings outlook after Bromberg settles into the role, says the analyst, who has “increasing optimism” that CAE can drive outsized EPS growth and valuation upside.