In a latest note to investors, a research analyst has provided a rating update for the Aecon Group Inc. (ARE). On April 29, analyst Yuri Lynk gave a Buy rating to ARE and set a C$26 price target.
According to TipRanks.com, Lynk is a 4-star analyst with an average return of 6.6% and a 55.1% success rate. Lynk covers the Basic Materials sector, focusing on stocks such as Badger Daylighting Ltd, SNC-Lavalin Group Inc, and Stantec Inc.
Aecon Group Inc. has an analyst consensus of Strong Buy, with a price target consensus of C$24.05, a 26.4% upside from current levels. In a report issued on April 26, Raymond James also maintained a Buy rating on the stock with a C$23 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 Wednesday at C$19.02, close to its 52-week high of C$19.79.
