Thu Sep 19 06:13:35 UTC 2024: ## Bombardier Sees Short Interest Drop as Analyst Upgrades Price Target
**Montreal, Canada – September 19th, 2024** – Bombardier Inc. (OTCMKTS:BDRBF) experienced a significant decrease in short interest during August, suggesting growing investor confidence in the aircraft manufacturer. Short interest fell by 9.9% to 809,800 shares by August 31st, down from 898,500 shares on August 15th. This decline comes alongside a recent price target upgrade from BMO Capital Markets.
The brokerage firm increased its price target for Bombardier from $95.00 to $129.00 and maintained an “outperform” rating on the stock in a research note published on June 3rd. This optimistic outlook echoes the trend of decreasing short interest, indicating potential for further growth in the company’s value.
Bombardier designs, manufactures, and sells business aircraft and aircraft structural components globally. It offers a comprehensive portfolio of products and services, including new aircraft, specialized aircraft solutions, pre-owned aircraft, and aftermarket services. The company’s stock opened at $70.88 on Thursday, with a 52-week low of $29.22 and a high of $72.39.
With its recent positive developments, Bombardier appears to be gaining momentum in the market. Investors will be watching closely to see if this positive trend continues in the coming months.
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