The Globe and Mail reports in its Friday, Jan. 17, edition that Raymond James analyst Frederic Bastien named Bird Construction his "Top Pick" for 2020, believing "its diversification efforts are now bearing fruit, most notably in the high-margin industrial sector." The Globe's David Leeder writes that Mr. Bastien reiterated his "outperform" call, while hiking his share target to $10 from $9. Analysts on average target the shares at $8.88. Mr. Bastien says in a note: "BDT is mobilized on four of five nuclear sites in Ontario, active with natural gas producers across Western Canada and already executing multiple contracts for LNG Canada. This multi-billion dollar project is being built on a postage stamp area along the Pacific Northwest's rugged coast line, presenting significant barriers of entry to any potential competing contractor. In the P3 sector, Bird has been deliberate in its pursuits for well over a year now, bidding only on jobs where it boasts an unparalleled competitive advantage (such as bundles and compost facilities). The result is a backlog of well-performing P3 projects about a tenth of the size it stood at three years ago. Further adding to Bird's transformation is its embrace of technology."