Stock price when the opinion was issued
A win for BBD.B, half a win for HON.
BBD.B as a standalone is a very good business, improving margins, focusing on the more predictable and sustainable after-market business. Also growing defense business. Backlog is good. Executed really well, and this can continue. Some concern about how they might be affected by tariffs, but that's overstated.
Good chance to accumulate, but you need a 2-5 year horizon because the stock's done so well and much of the good news has been priced in.
In his momentum mandate. Best planes out there in medium- and long-range heavy aircraft. Sells to the rich, who keep getting richer, so there's an appetite for their planes. Sold off, probably due to fears of tariff vulnerability. Lots of manufacturing in Canada, though most customers are in US.
Order backlog is good. Supply chains problems are being ironed out. Executing very well. Going after defense and maintenance markets. Good cashflow and de-leveraging to support the shares.
The question was on Bombardier being a good company for manufacturing military equipment and are there others in this field in Canada. He is not aware of other companies in Canada and although Bombardier does have a defense component it would be affected by tariffs.