Bombardier price target raised to C$103 from C$83 at Citi

Citi raised the firm’s price target on Bombardier to C$103 from C$83 and keeps a Buy rating on the shares. The company looks well positioned for further multiple expansion as it continues to demonstrate “good operational reliability,” the analyst tells investors in a research note. The firm says the stock’s valuation looks attractive among small- and mid-cap aerospace companies. Some sector multiple expansion seems possible into July’s Farnborough Air Show, contends Citi.