04/20/05 - Research Capital
NEW YORK, April 20 (newratings.com) - Analysts at Research Capital maintain their "hold" rating on Bombardier (BBDB). The target price is set to $2.50.
In a research note published yesterday, the analysts mention that GE Commercial Finance has agreed to acquire the Inventory Finance division of Bombardier’s subsidiary, Bombardier Capital, for $825 million in cash and $1.6 billion in debt assumptions. The deal, expected to close in 2Q05, would result in the reduction of Bombardier Capital's revenues from $426 million in FY05 to $300-$350 million in FY06, the analysts say. According to Research Capital, the sale would strengthen Bombardier's cash reserves.
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