The Globe and Mail reports in its Wednesday edition that Scotia Capital analyst Michael Doumet has assumed coverage on SNC-Lavalin Group with a "sector outperform" recommendation and $51 share target. The Globe's David Leeder writes that analysts on average target the shares at $47.18. The Globe says Mr. Doumet believes that SNC-Lavalin stands to "benefit from a global infrastructure renaissance, the energy transition, and the reshoring of manufacturing in North America." The Globe reports that SNC-Lavalin is one of Mr. Doumet's top picks in the sector. The Globe says Mr. Doumet believes "the best is still in front" of SNC-Lavalin despite "strong" organic growth across the sector through the last year. In a research report released Tuesday titled Defensives on the Cusp of an Upturn, Mr. Doumet says he sees "a mix of strong profit growth and multiple expansion" at SNC-Lavalin. He adds, "The industry still remains fragmented, and the benefits of being larger may be becoming increasingly important as companies look to take on 'mega' projects and attract/retain talent. ... SNC is focused on optimizing its portfolio; in the NTM, we believe it will be generating improving FCF and begin to redeploy into M&A."