Company News

BUZZ-Bombardier: Brokerages positive after selloff

** Plane and train maker’s shares surge 12 pct to C$2.70, a day after hitting a 1-year low on disappointing free cash flow forecast

** Cormark Securities says Thursday’s selloff was overdone, upgrades to “buy” from “market perform”

** Raymond James says BBD deserves more credit than market offered on Thursday, but trims PT to C$5.25 from C$6

** “The most significant ‘heavy lifting’ is over...and management has delivered on nearly all key milestones,” say Raymond James analysts

** At least 10 brokerages have cut PTs; Median PT is C$5 vs C$6 on Oct 9

** Brokerages still bullish, with 19 out of 21 rating stock “buy” or higher

** Stock down ~12 pct YTD (Reporting by John Benny in Bengaluru)