Canaccord Genuity analyst Doug Taylor initiated coverage with a Buy rating on CAE (CAE) yesterday and set a price target of C$23.00. The company’s shares closed last Monday at $9.94, close to its 52-week low of $9.80.
According to TipRanks.com, Taylor is ranked #2442 out of 6151 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for CAE with a $24.46 average price target, implying an 112.3% upside from current levels. In a report issued on March 19, RBC Capital also maintained a Buy rating on the stock with a C$26.00 price target.
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Based on CAE’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $74.01 million. In comparison, last year the company had a net profit of $58.76 million.
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CAE, Inc. engages in the provision of training and development of integrated training solutions for the defence and security markets, commercial airlines, business aircraft operators, helicopter operators, aircraft manufacturers, and healthcare education and service providers.
