The Globe and Mail reports in its Friday, Nov. 10, edition that Raymond James analyst Frederic Bastien is keeping his "outperform" recommendation for Stantec intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Bastien cut his share target back by $5 to $105. Analysts on average target the shares at $98.64. Mr. Bastien says in a note: "Our target price increase follows the release of exceptionally strong 3Q23 results [Thursday] and very positive messaging about what the future holds for the engineering consultancy. Stantec is punching above its weight in organic revenue and backlog growth, capitalizing on strong secular trends, and making sustainability core to everything it does. For these reasons, we believe our Best Pick for 2023 has more runway ahead." The Globe reported on May 12 that Mr. Bastien had downgraded Stantec to "outperform" from "strong buy." The shares were then worth $78.91. The Globe reported on Aug. 2 that Mr. Bastien was sticking with "outperform" call. Stantec shares were then going for $89.33.