The Globe and Mail reports in its Friday, March 14, edition that National Bank analyst Maxim Sytchev has reaffirmed his "sector perform" recommendation for Bird Construction. The Globe's David Leeder writes that Mr. Sytchev gave his share target a $2 trim to $32. Analysts on average target the shares at $34.38. Mr. Sytchev says in a note: "Bird's management team continues to execute well, surpassing 2022 strategic plan objectives and on the way toward 2027 ambitions. Earnings revisions and corresponding share price momentum has been extremely robust over the last 36 months but late 2024 euphoria had pushed the shares towards what we viewed as unsustainable levels. Now, at 5.4 times EV/2025 estimated EBITDA and an FCF yield of 5 per cent (on 2025E), expectations appear to be more realistic. The outlook does suggest that the bulk of revenue growth will be H2/25E-weighted and investors are never keen on pushed out growth when it comes to timing. At the same time, most end-markets to which Bird now has exposure are showing growth (with perhaps iron ore being slower). From a positioning perspective, we get a sense that earnings revision momentum might slow in the short term; we are therefore biding our time somewhat."