- RBC Capital analyst Walter Spracklin lowered the price target for CAE Inc CAE to C$37 from C$40 while maintaining the Outperform rating on the shares.
- The analyst notes that CAE posted weaker than expected Q1 results and lowered the FY23 guidance.
- Related: CAE Shares Plunge On Mixed Q1 Performance
- Spracklin states that the updated guide implies a robust turnaround during the remainder of the year.
- While updating his estimates to align with guidance, the analyst notes that guidance is back-half weighted and assumes an improvement in labor, supply chain, and contract issues — much of which carries a degree of uncertainty / low predictability.
- Price Action: CAE shares closed lower by 2.93% at $20.85 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
