The Globe and Mail reports in its Tuesday, Feb. 10, edition that Canaccord Genuity analyst Yuri Lynk raised his share target for Finning International to a Street-high $100, up from $90, while maintaining a "buy" recommendation. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $88.67. Mr. Lynk says in a note: "The company is enjoying several secular tailwinds such as electrification's positive impact on copper demand, the data centre build-out, and infrastructure renewal and replacement. These activities drive a virtuous circle of equipment sales that, in turn, require parts and service, which come at very nice margins. With a near record backlog and upside still afforded by continued data centre investment, a recovery in construction markets in Western Canada, longer-term mining opportunities in Argentina, a management team delivering the operating leverage that was sorely lacking in past upcycles, and a discounted valuation, Finning continues to afford investors good upside potential."
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