Demand FundamentalsDemand fundamentals are supportive of further upside, with solid underlying demand, disciplined capital allocation, and expanding free cash flow conversion.
Financial FrameworkThe financial framework of Bombardier supports further multiple re-rating, with a strong backlog and improvement in free cash flow conversion.
Market InterestBusiness jet buyers' interest is at the best level since the post-pandemic demand surge, with positive feedback from industry sources and projections of increased deliveries.
ValuationStrong end markets, growing revenues from less cyclical sources, expanding margins, rising free cash flow conversion, and declining financial leverage are supportive of improving valuation levels.