The Globe and Mail reports in its Friday, July 28, edition that National Bank analyst Maxim Sytchev's share target for North American Construction Group soared $9 to $42 after the company's $395-million acquisition of MacKellar Group. The Globe's Darcy Keith writes in the Eye On Equities column that MacKellar Group is an Australia-based provider of heavy equipment earthwork solutions to the mining and civil sectors. Analysts on average target the shares at $33.60. The deal was announced Wednesday night at the same time as North American Construction's earnings, which largely came in as expected by the Street. Mr. Sytchev calls MacKellar Group a "solid asset." He says its "attractive valuation" materially increases North Amercian Construction's footprint in Australia. He says, "[It] reminds us of Nuna/Aecon asset combo M&A -- transformational and accretive." Mr. Sytchev says the acquisition will add 40-per-cent to 50-per-cent incremental revenue, earnings before interest, taxes, depreciation and amortization, and earnings per share to the Street's 2024 estimates for the company. The Globe reported on Feb. 19, 2022, that Mr. Sytchev continued to rate North American "outperform." It was then worth $19.07.