The Globe and Mail reports in its Tuesday edition that ATB Capital analyst Chris Murray continues to rate the shares of Aecon Group "outperform." The Globe's David Leeder writes that Mr. Murray's share target soared $8 to $29. Analysts on average target the shares at $21. In explaining his share target upgrade Mr. Murray cites revisions to his approach to valuing Aecon's concessions segment, higher cash expectations and an expansion of his target trading multiple for construction. Mr. Murray met last week with the Aecon management. He says in a note: "The discussion touched on several aspects surrounding the company's outlook, including the demand environment, legacy projects, concessions, opportunities for Aecon Utilities, capital recycling opportunities and capital allocation priorities following the completion of three strategic transactions in 2023. Management remained upbeat on demand conditions across the company's core sectors and expects backlog to continue to trend toward lower-risk work given the ongoing industry shift toward progressive model contracts." Aecon said its three remaining legacy projects can be finished with potential future losses remaining within the parameters it set earlier in the year.