The Globe and Mail reports in its Wednesday, June 24, edition that National Bank Financial analyst Maxim Sytchev continues to rate Bird Construction "outperform," with an unchanged share target of $57. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $62.57. Mr. Sytchev says in a note: "Recall that Bird is one of the leading vertical building contractors while sporting one of the largest electrical/mechanical capabilities (through legacy Canem and in-situ expertise). We estimate the data centre construction costs (shell and core, excluding compute) to total around $3-million to $5-million per 1 MW of capacity. Given Bird is unlikely to capture 100 per cent of any given project and assuming $2-million for Bird's potential revenue per MW as a more conservative figure, cumulative incremental revenue from the DC buildout could amount to approximately $1-billion in topline (note that BDT identified data centres as a $20-billion TAM in its own materials -- we don't know what exactly is being assumed as reaching a go-ahead stage in that large figure) vs. the current consolidated revenue range of $3.8-billion for 2026."