Goldman cuts price target on Bombardier; sees further CSeries delay

Goldman Sachs cut its price target on Bombardier Inc (BBDb.TO)(BDRBF.PK) and reiterated a "sell" rating on shares of the train and plane maker on Tuesday, warning it expected the CSeries aircraft's entry into service to be delayed again. Goldman's price cut came just days after a Swedish carrier backed out as the first customer to start commercial flights with its new CSeries jet. Malmo Aviation, owned by Sweden's Braathens Aviation, was slated to be the first CSeries customer to take delivery of the new jet in the second half of 2015, but the airline said on Friday that will no longer be the case. Poponak reiterated the "sell" rating and trimmed his price target to C$3 from C$3.20.

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