Investors looking for stocks with visible growth potential should consider Bombardier (TSX:BBD.B), Computer Modelling Group (TSX:CMG), and Stingray Group (TSX:RAY.A). Prices should rise further as the economic environment improves post-rate cut.
Strong momentum
Bombardier has gained momentum since reporting its Q1 2024 quarterly results. Its share price of $86.54 is 40.2% higher since the earnings release on April 25. On a year-to-date basis, current investors are up 62.6%.
In the three months ending March 31, 2024, revenue and net income fell 11.8% and 63.6% year over year to US$1.3 billion and US$110 million, respectively. However, orders across the aircraft portfolio rose 60% versus Q1 2023, while backlog increased 4.9% to US$14.9 billion from a year ago.
Éric Martel, President and CEO of Bombardier, said, “Our team came flying out of the gates in 2024 on soaring aircraft orders and service revenues. The unit book-to-bill…
