The Globe and Mail reports in its Friday, Nov. 8, edition that National Bank Financial analyst Maxim Sytchev continues to rate Bird Construction "outperform," with a $9.50 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $8.13. Mr. Sytchev says in a note: "The investment thesis for the near term is continued (positive) backlog evolution; margin improvement will be the by-product of that. Against the backdrop of numerous incidents due to industry challenges, Bird management has shrewdly identified a 'comfort zone' of smaller or medium-sized projects to proactively manage risks. We applaud this approach as in our view, investor mindset has also shifted from rewarding size (by simply growing backlog) to focusing on consistent profitability. The embedded backlog is underpinning a positive trajectory to higher margins while the company strives to bring industrial work back to 50 per cent of consolidated top line. Cedar Valley Lodge is in full production; management is adamant that FLR's recent issues are isolated from Bird's progress on site. ... All in, we are feeling very comfortable with company's prospects."