Bombardier's rating reduced, lower third quarter earnings expected
2012-12-04 10:29:12National Bank Financial's analyst Cameron Doerksen reduced his rating for Canada-based Bombardier due to short-term concerns. On average, analysts anticipate Bombardier to book per share adjusted profits of CAD 0.11 (EUR 0.08 USD 0.11) and revenues of USD 4.68bn (EUR 3.61bn) during the third quarter of 2012. However, Doerksen's projection of the firm's per share earnings is lower by CAD 0.03. Furthermore, his share target price of the firm has been cut to CAD 4.25, down CAD 0.25. The reduction comes amid a rising delay risk in the CSeries' first flight, reduced Challenger business jets and regional jets sales as well as a potential 12 month delay for its Bombardier Transportation railway unit to achieve its targeted profit margin. In addition, he expects Bombardier's aircraft delivery to total 61 planes during the three month period, including 14 regional aircraft, 46 business jets and one amphibious plane. In the previous year, the company delivered 68 aircraft.