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SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2020-08-04 C$ 22.06
Recent Sedar Documents

Globe says SNC-Lavalin elevated to "buy" from "hold"

2020-08-05 07:27 ET - In the News

The Financial Post reports in its Saturday, Aug. 1, edition that Laurentian Bank Securities analyst Mona Nazir expects SNC-Lavalin Group to continue to face several challenges. The Globe's David Leeder writes that Ms. Nazir thinks SNC's risk-reward proposition, however, is "favourable" and "investors should look to buy at these levels." She raised her rating to "buy" from "hold." Ms. Nazir continues to target the shares at $33. Analysts on average target the shares at $33.31. Ms. Nazir says in a note: "Following a review of options for the Resources business, management is implementing a strategy to reposition Resources as a complimentary service offering to its engineering capabilities with the focus largely on the Americas and Middle East ($47-million restructuring charge in Q2/20). All other geographies will be wound down via closures and sales (South Africa divested last week, 1,800 employees, non-material proceeds). Resources revenue are expected to equate to 10 per cent of the mix in 2021, vs. 23 per cent in 2019; expectations are for a $15- to $20-million EBIT drag in H2/20, and a turn to profitability in H2/202." She adds that SNC is now on a "stronger footing with higher profitability."

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