The Globe and Mail reports in its Tuesday, March 10, edition that National Bank Financial analyst Maxim Sytchev is keeping his "sector perform" call on Badger Infrastructure Solutions intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sytchev gave his share target an $8 trim to $74. Analysts on average target the shares at $82.21. Mr. Sytchev argues that Badger Infrastructure "continues to deliver on its (very impressive) growth targets, continuing to gain market share in a strong spending backdrop with multiyear visibility and expanding into adjacencies to diversify the company's revenue base." Mr. Sytchev says in a note: "This amplifies pricing power and supports a higher ceiling for utilization rates, increasing incremental ROIC [return on invested capital] for new fleet additions. That said, there are significant costs to support this growth as the company scales and densifies its presence in key markets, and contributions from new trucks and operators will take time to fully ramp up. In addition, elevated CapEx and incremental tariff costs will create another burden on FCF conversion/generation. ... End-market demand is as strong as ever."