The global business jet market is projected to have a significant increase from $24.24 billion in 2024 to $34.09 billion by 2033. With USA, France, Japan, and Saudi Arabia showing the highest growth, the industry seems to be heading towards an upward trajectory.
This increment comes as demands for specialized medical transportation increases and the concept of fractional ownership and jet-sharing models becomes more popular. Among the key players featured in this sector include Airbus, Bombardier Inc., Dassault Aviation, Embraer, General Dynamics, Honda, Pilatus Aircraft, and Textron.
Importantly, this article takes a deep dive into understanding the market dynamics by focusing on Bombardier Inc (BBD-B: CA), giving an exhaustive analysis of the firm’s stock performance and prospects in the sector amidst these emerging market trends.
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Bombardier Inc: A Compressive Stock Assessment
As of now, Bombardier’s stock holds a general recommendation of ‘Hold.’ Stock Target Advisor rates the Target Price at CAD 113.67, reflecting a projected price change of 20.16% in the next 12 months. This contrasts with the Average Analyst Target Price, which stands at CAD 117.72, coupled with a strong buy rating. However, in our assessment based on 5 positive and 5 negative signals, we remain Neutral.
The company’s stock has undergone several changes, with the last closing price standing at CAD 94.60. Over the past week, month, and year, the stock price has changed by -1.30%, -10.79%, and +101.88%, respectively.
How Does Bombardier Inc Stand in Market Analyst Coverage?
Bombardier Inc is covered by a total of twelve analysts, providing comprehensive market insight. Despite a slight divergence from Stock Target Advisor’s evaluation, the average rating from analysts lands at a Strong Buy.
Notable contributors to this coverage include Morningstar, TD Securities, National Bank Financial, and CIBC World Markets, among others. Analysts have set an average target price of CAD 117.72, with the projections ranging from a high of CAD 143 to a low of CAD 65, reflecting diverse perspectives on the stock’s performance potential.
How Does Aerospace & Defense Sector Look Like?
In the Aerospace & Defense sector, the average analyst provides a Buy rating; however, our prediction is Neutral for the sector. With respect to returns, the data indicates a -0.98% over a month and -1.72% over the past week.
In short, the upward trajectory in the global business jet market could bear potential opportunities for Bombardier Inc. (BBD-B:CA) and stakeholders in the aerospace sector. However, in light of our analysis, our current rating on Bombardier’s stock remains neutral.
Muzzammil is a content writer at Stock Target Advisor. He has been writing stock news and analysis at Stock Target Advisor since 2023 and has worked in the financial domain in various roles since 2020. He has previously worked on an equity research firm that analyzed companies listed on the stock markets in the U.S. and Canada and performed fundamental and qualitative analyses of management strength, business strategy, and product/services forecast as indicated by major brokers covering the stock.
