The Materials sector company, Aecon Group Inc. (ARE), has received a rating update from a Wall Street analyst yesterday. Analyst Chris Murray from AltaCorp Captial rated Aecon Group Inc. (ARE) a Buy, setting a C$24.25 price target.
Murray has an average return of 11.3% when recommending Aecon Group Inc..
According to TipRanks.com, Murray is ranked #603 out of 5195 analysts.
Currently, the analyst consensus on Aecon Group Inc. is a Strong Buy with an average price target of C$24.06, representing a 27.8% upside. In a report issued on April 26, Canaccord Genuity also reiterated a Buy rating on the stock with a C$25 price target.
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Based on Aecon Group Inc.’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$9.82 million. In comparison, last year the company had a GAAP net loss of C$19.25 million.
Aecon Group, Inc. engages in construction and infrastructure development. It operates through Construction and Concessions segments. The Construction segment includes all aspects of the construction of both public and private infrastructure, primarily in Canada, and on a selected basis, internationally.
The company’s shares closed on Monday at C$18.83.
