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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (58485)	7/30/2019 9:11:45 AM
From: Goose94	Read Replies (1) of 203026

Aecon Group (ARE-T) Desjardins Securities analyst Benoit Poirier reiterated his "buy" call, while boosting his share target to $24 from $23. Analysts on average target the shares at $24.45. Mr. Poirier says in a note: "ARE reiterated its positive outlook for 2019, as its record backlog, robust pipeline of opportunities and ongoing concessions should lead to revenue and adjusted EBITDA growth (excluding the contract mining business). We now forecast revenue of $3.3-billion (up 10 per cent year-over-year excluding the contract mining business) and adjusted EBITDA of $223-million (implying an EBITDA margin of 6.7 per cent, up 80 basis points year-over-year). Interestingly, management also highlighted that the solid momentum should extend into 2020 as the nuclear contract at Bruce Power starts ramping up. Overall, we are maintaining our bullish stance on ARE due to its strong operational track record, solid balance sheet, robust backlog and healthy market conditions across a diversified range of sectors. In the long term, we believe ARE could replicate its success in the U.S. through M&A -- a potential catalyst for the story."

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