The Globe and Mail reports in its Wednesday, Aug. 3, edition that Desjardins analyst Benoit Poirier has cut his rating for Aecon Group to "hold" from "buy." The Globe's David Leeder writes that Mr. Poirier, who says he prefers to "wait on the sidelines," knocked his share target back by $6 to $17. Analysts on average target the shares at $15.67. Mr. Weekes says in a note: "Aecon has a market-leading position in the growing Canadian infrastructure market as well as a strong operational track record. However, given the length of possible disputes/litigation is unknown and given the possibility of future project adjustments due to the current environment (increasing interest rates, high inflation, labour and supply chain issues), visibility on consistent future cash flows is less clear and more difficult to predict. ... Four large fixed-price legacy projects, including the CGL pipeline project, are being negatively impacted by additional costs. During 2Q, the impacts became more pronounced and, as a result, Aecon is in the process of submitting claims for compensation. Interestingly, management stated on the call that the recent settlement between TC Energy and LNG Canada could help Aecon with its disputes."