The Globe and Mail reports in its Friday, Feb. 28, edition that National Bank analyst Maxim Sytchev has reaffirmed his "outperform" recommendation for WSP Global. The Globe's David Leeder writes that Mr. Sytchev jacked his share target up by $10 to $292. Analysts on average target the shares at $288.21. Mr. Sytchev says in a note: "There are always puts and takes in any business, and while we certainly agree that the general directionality of company's operations have been extremely impressive, a temporary retraction in APAC [Asia-Pacific] is just that, temporary. At the same time, when expectations rise as represented by 28 times NTM [next 12-month] P/E multiple, the hurdle becomes higher. We have full confidence in WSP's growth algorithm, but we do suspect that next leg of share price advancements needs to come from M&A as it's hard to bank on further multiple expansion, especially in light of U.S. peers' valuation compression given materially greater exposure to Federal work. ... Long-term upside in WSP shares remains material given the market s fragmentation, WSP s M&A and operational track record and, of course, those ambitions of doubling the size of the company at potentially 22-per-cent EBITDA margin."