1406 ET - Activist investor Browning West's letter seeking to engage with CAE to find a new leader is being viewed "slightly positively" by TD Cowen. Analyst Tim James says in a note that Browning West disclosed interest in a higher share price and a belief that "a proven CEO with a verifiable track record is important." James says Browning West's letter outlines its belief that the company can grow its EPS/FCFPS "well in excess of current market expectations." The analyst adds that recent changes in major senior executive positions, combined with the sub-par return on capital employed, likely mean the company is well aware of the need for change. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
December 20, 2024 14:06 ET (19:06 GMT)
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