Exchange Income price target raised to C$74.50 from C$73 at CIBC

CIBC raised the firm’s price target on Exchange Income (EIFZF) to C$74.50 from C$73 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. Increased defense spending in Canada could be a long-term positive for Exchange Income, particularly through its involvement in the SkyAlyne joint venture, which will deliver and operate future military pilot-training programs under Canada’s FAcT initiative, CIBC says.