The Globe and Mail reports in its Wednesday, Sept. 6, edition that Scotia Capital analyst Michael Doumet says Stantec stands "to benefit from a global infrastructure renaissance, the energy transition, and the reshoring of manufacturing in North America." The Globe's David Leeder writes in the Eye On Equities column that in a research report released Tuesday titled Defensives on the Cusp of an Upturn, Mr. Doumet assumed coverage on Stantec with a "sector perform" recommendation. The Globe says Mr. Doumet believes "the best is still in front of" Stantec despite "strong" organic growth across the sector through the last year. Mr. Doumet says in a note, "Expanding trading multiples are likely the primary hurdle for investors; however, we believe strong projected (multi-year) organic growth profiles, capital-light features, and proven M&A capabilities will grow profits (i.e., double-digit EBITDA-per-share CAGRs [compound annual growth rates]) such that multiple expansion is unnecessary (but may occur) to create ample returns." The Globe reported on July 21 that CIBC World Markets analyst Jacob Bout had reaffirmed his "outperformer" ranking for Stantec. The shares could then be had for $88.75.