The Globe and Mail reports in its Thursday, April 27, edition that Raymond James analyst Frederic Bastien has reiterated his "outperform" recommendation and $20 share target for Aecon Group. The Globe's Darcy Keith writes that Mr. Bastien thinks the stock has considerable upside given how cheaply it is trading. Aecon Group is Canada's largest publicly traded construction firm. In March, it sold a minority interest in Bermuda Skyport and divested its Aecon Transportation East business. Adjusted earnings before interest, taxes, depreciation and amortization of $25-million in its first quarter were below consensus of $27-million but still better than Mr. Bastien's forecasts. He says in a note: "On the back of two value-surfacing transactions last month, Aecon Group is well positioned to see through its challenging fixed-price work, address its maturing convertible debentures, and pursue new avenues for growth. With the impending close of these deals and the fact the first quarter is the seasonally weakest of the year, we would expect investors to look beyond the modest 1Q23 EBITDA miss. ... [The firm] is miles ahead of the competition when it comes to sustainable construction, and trades well below its intrinsic value."