1158 ET - CAE announced major changes to the board that have been well-received by investors. Shares are up over 16% to 38.83 Canadian dollars. The star of the appointments is former Air Canada CEO Calin Rovinescu who will take on the role of chair, a "highly respected executive by institutional investors," according to BMO's Fadi Chamoun. "We believe a change in governance that can champion a shift to a more capital-allocation-focused strategy emphasizing risk-adjusted return and a balanced approach to growth and ROIC has the potential to deliver significant valuation upside," he says in a report. BMO raises its target price to C$39 from C$38. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
February 14, 2025 11:58 ET (16:58 GMT)
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