The Globe and Mail reports in its Wednesday, Jan. 31, edition that Scotia Capital analyst Michael Doumet, pointing to "high visibility earnings growth," predicts the 2024 "success" of "much beloved" Canadian engineering and construction firms will continue this year. The Globe's David Leeder writes that in a report titled In Full Swing, Mr. Doumet touted visibility on high-single-digits organic growth as well as margin expansion, which could extend into 2025 "driven by the infrastructure renaissance, the energy transition, and reshoring trends." He says: "For the group, we forecast 2024 organic growth of 7 per cent to 9 per cent. ... Industry tailwinds remain robust." Mr. Doumet has reaffirmed his "sector perform" call for Stantec. He boosted his share target by $6 to $116. Analysts on average target the shares at $117.55. Mr. Doumet says in a note: "Stantec trades at 14.7 times EV/EBITDA on our 2024 estimates, reflecting a 1.3 times premium to WSP Global. We believe Stantec can maintain its premium so long as it generates superior organic growth (its end-market exposure should enable it to, but we do expect organic growth to converge between Stantec and WSP Global in 2024) and can accelerate M&A."