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SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2021-03-11 C$ 26.55
Recent Sedar Documents

Globe says SNC-Lavalin Group kept at "buy"

2021-03-11 07:47 ET - In the News

The Globe and Mail reports in its Thursday, March 11, edition that Desjardins Securities analyst Benoit Poirier is keeping his recommendation for SNC-Lavalin Group at "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Poirier, however, cut his share target by $1 to $37. Analysts on average target the shares at $33.23. The Globe says Mr. Poirier believes the "key pillars" are now in place for SNC to "unleash" the full potential of its engineering services business. He says SNC's outlook for the segment is "encouraging" after it posted "solid results across the board despite the pandemic." Mr. Poirier says in a note: "SNCL engineering services revenue is expected to increase in the low-single-digit percentage range in 2021, with an adjusted EBIT margin of 8 10 per cent (consensus was 9.6 per cent vs our initial forecast of 9.2 per cent). We expect SNC to be re-rated as it delivers strong adjusted EBITDA and FCF, demonstrating the full potential of its Engineering Services business." The Globe reported on Jan. 11 that National Bank analyst Maxim Sytchev continued to rate SNC "outperform." The shares were then worth $22.25.

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