CAE and Saab Ink Gripen Training MoU, Eyeing Canadian Fighter Program
CAE is trading near its 52-week low of $22.76 (9.0% above the low) on light trading volume (0.1× avg).
Summary
CAE and Saab signed an MoU to collaborate on training and mission support for the Gripen fighter if Canada selects it. CAE would build and run a Canadian training ecosystem for pilots and technicians, with potential international work. This follows a May 27 teaming agreement on a separate AEW&C program, deepening the Saab relationship. The deal positions CAE for a material long-term contract but hinges on a Canadian government decision with no set timeline.
At the time of this announcement, CAE was trading at $24.80 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $8B. The 52-week trading range was $22.76 to $34.24. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.