The Globe and Mail reports in its Wednesday edition that Desjardins Securities analyst Benoit Poirier trimmed his Aecon Group share target to $22 from $24 with an unchanged "buy" recommendation. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $22.73. Mr. Poirier says in a note: "While we were impressed by the sequential jump in the backlog (up 11 per cent to $10.7-billion) and the reduced exposure to problematic legacy projects (now comprise only 1 per cent of total backlog, with all three projects to be completed by end 2025), the greater exposure to less risky, non-fixed-price contracts (76 per cent of backlog vs 50 per cent a year ago) is likely to make it more difficult to expand construction EBITDA margin beyond 6 to 6.5 per cent in the immediate term. We have reduced our margin assumptions slightly but maintain our 'buy' rating." The Globe reported on April 23 that Raymond James had elevated its call for Aecon Group to "outperform" from "market perform." It was then worth $17.07. The Globe reported on April 25 that National Bank Financial analyst Maxim Sytchev had reaffirmed his "outperform" recommendation for Aecon when it could be had for $15.40.