Bombardier (TSX:BBD.A) shares soared on Monday boosted by recent analyst commentary on the stock ahead of the company’s fourth quarter earnings report.
Shares of Bombardier Class B stock gained 10% at C$97 late morning in Toronto
The Montreal-headquartered business jet manufacturer earned a price target of C$133 last week from analysts at the Royal Bank of Canada, implying upside of almost 40% at the time of writing.
UBS analysts also lifted their price target to C$76 from C$70.
Meanwhile, investors are looking ahead to Bombardier's Q4 earnings report, which is expected to be released in early February.
This report is significant as it typically coincides with a peak in aircraft deliveries, which could enhance revenue projections. The company aims to deliver at least 61 aircraft in the current quarter, contributing to an estimated $3 billion in revenue.