The Globe and Mail reports in its Friday, Oct. 4, edition that Stifel analyst Ian Gillies thinks government spending will likely "remain the gift that keeps on giving" for Canadian engineering and construction firms, predicting organic revenue growth tailwinds will continue longer than expected. The Globe's David Leeder writes in the Eye On Equities column that accordingly, Mr. Gillies raised his share target for Aecon Group, which he rates "buy," to a Street-high $31, from $30. Analysts on average target the shares at $22.09. Mr. Gillies says in a note: "In the U.S. and Canada, we continue to expect rising capital investments from the government to support near-shoring and population growth. Our analysis of four key agencies in the United States would indicate that a long-tail of spending will occur as budgeted dollars have been slow to translate into committed dollar. As this occurs, it should propel government non-residential spending higher. In Canada, government budgets depict spending growth of 12 per cent which should drive higher demand for E&C services. Changes to U.K. policy are another positive harbinger for spending. Government spending is the gift that keeps on giving for E&Cs."