03:39:30 EDT Sun 19 Sep 2021
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or Name

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SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2021-03-08 C$ 26.51
Recent Sedar Documents

Globe says SNC-Lavalin seen delivering "solid margins"

2021-03-09 08:34 ET - In the News

The Globe and Mail reports in its Tuesday, March 9, edition that Desjardins Securities analyst Benoit Poirier has reiterated his "buy" call on SNC-Lavalin Group ($26.51). The Globe's David Leeder writes in the Eye On Equities column that Mr. Poirier elevated his share target by $3 to $38. Analysts on average target the shares at $33.46. Mr. Poirier says SNC's transformation to a pure-play engineering services company is progressing well. Mr. Poirier says in a note: "All in, the actions taken by management will result in a total charge of $480-million related to continuing operations in 4Q20, of which $230-million will be cash settled ($125-million payable in 4Q20). Overall, we believe these announcements will significantly derisk the story by reducing the company's exposure to Resources LSTK projects while lowering the likelihood of future cost reforecasts in the remaining infrastructure LSTK backlog. Our forecasts now reflect these adjustments. We expect management to focus heavily on growing the SNCL engineering services segment -- a key driver of future value creation. We expect SNC to be rerated as the division delivers top-line growth while continuing to deliver solid margins and FCF."

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