17:59:15 EDT Mon 02 Aug 2021
Enter Symbol
or Name

Login ID:
SNC-Lavalin Group Inc
Symbol SNC
Shares Issued 175,554,252
Close 2021-06-15 C$ 32.10
Recent Sedar Documents

Globe says limited upside seen at SNC Lavalin Group

2021-06-15 08:18 ET - In the News

The Globe and Mail reports in its Tuesday, June 15, edition that BMO Nesbitt Burns analyst Devin Dodge says even though SNC-Lavalin Group appears to be on a path to put its troubled past in the rear-view mirror, he nonetheless believes the company's upside is limited. The Globe's David Leeder writes in the Eye On Equities column that Mr. Dodge sees "limited remaining runway for a potential re-rating." Mr. Dodge raised his share target to $33 from $31 with an unchanged "market perform" rating. Analysts on average target the share at $39. Mr. Dodge says in a note: "Applying multiples to SNC's divisions that are consistent with the most relevant comps, we estimate SNC's shares could edge up into the mid-to-high $30s, or a bit more than 10 per cent above current levels. However, we expect the closing of the multiple gap will be gradual and requires significantly improved and more stable financial performance. In our view, we believe the remaining rerating opportunity isn't sufficient to offset the downside risk should adverse developments emerge." 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.