17:13:54 EDT Wed 22 Sep 2021
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2021-05-17 C$ 32.79
Recent Sedar Documents

Globe says SNC-Lavalin Group maintained at "buy"

2021-05-18 08:01 ET - In the News

The Globe and Mail reports in its Tuesday edition that Desjardins Securities analyst Benoit Poirier is keeping his "buy" recommendation for SNC-Lavalin Group ($32.79) intact. The Globe's David Leeder writes that Mr. Poirier says SNC-Lavalin's "transformation is progressing in the right direction, thanks to strong execution." He boosted his share target by $7 to $44. Analysts on average target the shares at $36.65. Mr. Poirier says in a note: "We are very pleased with SNC's 1Q results, which demonstrated solid execution at SNCL engineering services and an efficient rundown of the LSTK [lump sum turnkey] backlog. With the completion of the last resources LSTK project in sight and the divestiture of the oil & gas business on track to close in 2Q, we believe investors should start revisiting SNC ahead of a potential rerating in the latter part of 2021. ... We expect a further rerating as SNC delivers strong adjusted earnings before interest, taxes, depreciation and amortization and free cash flow, 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.

© 2021 Canjex Publishing Ltd. All rights reserved.