Jefferies Starts CAE Inc. (CAE) at Hold

Jefferies analyst Sheila Kahyaoglu initiates coverage on CAE Inc. (NYSE: CAE) with a Hold rating and a price target of $21.00.

The analyst comments "CAE provides training & simulation that is positioned to capitalize on structural pilot shortages and growing adoption of synthetic warfare training. However, pilot training windfalls remain tethered to softer NT aircraft deliveries (1 sim per 30/15 NB/WB), while D&S is early innings of a multi-yr restructuring of legacy contracts that hamper NT profitability. Initiate at Hold with US$21 PT on SOTP due to minimal Civil upside and D&S show-me story."

For an analyst ratings summary and ratings history on CAE Inc. click here. For more ratings news on CAE Inc. click here.

Shares of CAE Inc. closed at $18.70 yesterday.

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