The Globe and Mail reports in its Friday, Sept. 5, edition that National Bank Financial analyst Maxim Sytchev upgraded his recommendation for Bird Construction to "outperform" from "sector perform" following a 30-per-cent drop in its share price and the $82.3-million acquisition of Fraser River Pile & Dredge (FRPD). The Globe's David Leeder writes in the Eye On Equities column that Mr. Sytchev gave his share target a $2 boost to $28. Analysts on average target the shares at $32.63. On Wednesday Bird announced the acquisition of FRPD, which operates in marine construction and dredging in Western Canada. Mr. Sytchev notes that this deal significantly boosts Bird's revenue exposure to increasing infrastructure spending in Canada, including key nation-building and defence-related projects. Mr. Sytchev says in a note: "FRPD's high proportion of self-perform work aligns with Bird's strategic and operational criteria for acquisitions, and will incrementally lower reliance (and associated risk) on subcontractors going forward. In addition, FRPD brings significant cross-selling opportunities, including with legacy Jacob Bros. operations as the purchase scales up Bird's B.C. infrastructure operations."