The Globe and Mail reports in its Friday, Jan. 12, edition that CIBC World Markets analyst Jacob Bout has reaffirmed his "outperformer" call on Stantec with a $116 share target, up from $111. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $116.73. Mr. Bout says in a note: "Recall Stantec held an Investor Day on Dec. 5, where the company announced fresh three-year (2024-2026) strategic plan targets and financial guidance for 2024. The event showcased a number of industry and company-specific factors that should lend support for continued strong organic growth (more than 7 per cent per year), further EBITDA margin expansion (average of 30 basis points per year), and accretive M&A. Given Stantec's robust M&A pipeline and improved balance sheet capacity, we expect it to continue to be active on M&A over the next year." The Globe reported on July 21 that Mr. Bout had reaffirmed his "outperformer" ranking for Stantec. The shares could then be had for $88.75. The Globe reported on Dec. 15 that National Bank analyst Maxim Sytchev had reaffirmed his "outperform" recommendation for Stantec. The shares could then be had for $101.95.