The Globe and Mail reports in its Tuesday, Jan. 14, edition that Canaccord Genuity analyst Yuri Lynk says the North American engineering and construction (E&C) sector is "positioned well" for 2020. The Globe's David Leeder writes that Mr. Lynk sees a "supportive" macro backdrop despite slowing growth. Mr. Lynk says in a note: "We see growth in civil and non-residential construction spending slowing dramatically in 2020 but remaining at extremely healthy levels. After ten years of economic expansion, government tax receipts are supportive of increased spending on infrastructure. For example, the National Association of State Budget Officers forecasts U.S. states' total capital expenditures will increase nearly 8 per cent in 2019 when the final numbers become available. Most third-party forecasts peg growth in 2020 slowing to the mid to low single-digit range in both Canada and the U.S. North American infrastructure spending growth should be led by the following verticals: transportation, water supply, highway & street, power, and sewage & waste disposal." He continues to rate Bird Construction "buy," while raising his share target to $7 from $6.50. Analysts on average target the shares at $8.38.