Inside the Market’s roundup of some of today’s key analyst actions
National Bank Financial analyst Cameron Doerksen thinks the outlook for the aerospace industry “remains positive,” which he expects will lead to a period of multiyear growth for
The analyst also thinks the outlook for the defence end market “remains supportive for 2024 and beyond as global military spending to address growing threats continues to increase.” “We believe questions regarding the outlook in China and concerns about how BK U.S. would fare in a more value-driven environment will make multiple expansion from here difficult in the near-term,” he added.
Reaffirming his “neutral” rating on Restaurant Brands shares, Mr. Tower lowered his target to US$78 from US$81 to reflect those lower expectations. The average target on the Street is US$84.88.The company has demonstrated an ability to improve franchisee profitability in core home markets across the portfolio and we expect this broadly continues, along with strong unit growth for Burger King International, ramping of PLK brand globally and solid comp growth at TH Canada,” he concluded.
“Our Q1 EPS estimate moves lower to $1.34 , below consensus $1.40, to reflect indications that truck pricing in Q1 came in below our prior expectations,” he said. “Our 2024 estimate decreases to $7.15 , below consensus $7.36, driven by weaker than expected pricing that we expect to negatively impact results in the first half of 2024. Our 2025 estimate remains at $9.00 , however, as we expect trucking conditions to normalize into 2025 and for TFII to benefit from the Daseke integration.
Target Company Cae Consensus Management Defence Estimate First Quantum Minerals Ltd. IATA Bombardier Inc.
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