The Globe and Mail reports in its Tuesday, May 6, edition that CIBC World Markets analyst Paul Lechem has cut SNC-Lavalin Group ($51.03) to "sector performer" from "sector outperformer." The Globe's Darcy Keith and Tim Shufelt write in the Eye On Equities column that last week SNC sold its AltaLink transmission company, netting it about $2.95-billion or $19.50 per share in cash after taxes. The key question now is what will SNC do with that money. Mr. Lechem says it is likely SNC will make an acquisition of an engineering, procurement and construction company. That would raise SNC's risk profile when compared with owning TransAlta. He says generating further value from reinvesting the cash from the AltaLink sale "is far from assured." Mr. Lechem says for SNC to add "further value to the cash proceeds received from the sale would require both a reasonably priced acquisition ... and an improved valuation for SNC's combined EPC operations. While these outcomes are certainly possible ... we foresee a certain level of risk and expect the timeframe for further clarity likely to be in 2015 rather than in the shorter term." Mr. Lechem raised his price target to $58 from $52. The average Street target is $54.05.