BMO Capital lowered the firm's price target on CAE to C$47 from C$50 and keeps an Outperform rating on the shares. The shares trade at an "undemanding valuation" following the "more negative-than-expected market reaction" to the company's "potentially conservative" transformation plan and medium-term targets, the analyst tells investors in a research note. BMO says CAE's valuation is well below its peers.
