The Globe and Mail reports in its Friday, July 28, edition that Aecon Group tumbled $2.01 to close in Toronto at $10.44. The Globe's Darcy Keith writes in the Eye On Equities column that investors were reacting to the latest earnings from Aecon Group, which fell well short of analyst expectations. Mr. Keith says the reviews of the quarterly results have not been positive. Canaccord Genuity analyst Yuri Lynk says, "EBITDA fell 57 per cent year-over-year to $17-million, materially below our $52-million estimate and the FactSet consensus of $55-million." Mr. Lynk notes that costs for some key projects were revised higher by the engineering firm. He adds, "Q2/23 results once again highlighted the [very sticky] tail risks created by problematic large-scale projects." The average analyst share target is $15.83, down from $16 a month ago. Mr. Lynk says, "We continue to view the medium-term outlook as too cloudy to recommend the stock at this valuation level." The Globe reported on March 17 that Mr. Lynk had recommended avoiding Aecon when it was worth $13.42. The Globe reported on May 18 that BMO had upgraded its call for Aecon Group to "outperform" from "market perform." It was then worth $13.14.