The Globe and Mail reports in its Friday, Dec. 1, edition that a handful of analysts raised their share targets on Stantec following the company's recent equity offering that will help pay for future acquisitions. The Globe's Darcy Keith writes that BMO Capital Markets analyst Devin Dodge says Stantec's balance sheet is in good shape and the proceeds from the equity offering add to its capacity to self-fund mergers and acquisitions. Mr. Dodge has reaffirmed his "outperform" recommendation for Stantec. He gave his share target a $3 boost to $107. Analysts on average target the shares at $109.91, up from $98.64 a month ago. Mr. Dodge says the stock "is firing on all cylinders, with the company delivering strong revenue growth, margin expansion and free cash flow." Mr. Dodge says in a note: "We believe Stantec continues to represent an attractive risk/reward. ... The acquisition pipeline remains very active and management is evaluating opportunities across all of its sectors. In the interim, the company intends to apply the proceeds to its revolving credit facility." The Globe reported on Nov. 14 that ATB Capital analyst Chris Murray had upgraded Stantec to "outperform." It was then worth $96.96.