The Globe and Mail reports in its Tuesday, Nov. 14, edition that ATB Capital Markets analyst Chris Murray has upgraded Stantec to "outperform" from "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Murray's share target soared $20 to $110. Analysts on average target the shares at $102.55. The Globe says Mr. Murray boosted his rating in response to "impressive" quarterly results." Mr. Murray says in a note: "Stantec's results were impressive, as better-than-expected organic growth and project margin underpinned a large beat. Organic growth of 9 per cent exceeded ATB's estimate by 70 basis points, led by the strength in the U.S. Strong Q3/23 results and a constructive outlook led management to increase full-year guidance. While formal revised financial targets are expected to be released at Stantec's upcoming investor day, management was upbeat on the 2024 outlook across its regions/end markets and the opportunity for incremental margin expansion. Given the expected impact of U.S. infrastructure spending on organic growth over a multi-year period, better project execution, and the company's stable leveraged operating model, we have become increasingly constructive on Stantec."