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Atkinsrealis Group Inc
Symbol ATRL
Shares Issued 175,272,970
Close 2024-06-14 C$ 57.83
Market Cap C$ 10,136,035,855
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Globe says better days seen ahead for Atkinsrealis

2024-06-14 07:37 ET - In the News

The Globe and Mail reports in its Friday, June 14, edition that National Bank Financial analyst Maxim Sytchev has reaffirmed his "outperform" recommendation for Atkinsrealis Group. The Globe's David Leeder writes that Mr. Sytchev boosted his share target by $6 to $67. Analysts on average target the shares at $63.45. Mr. Sytchev says he has "growing confidence in better days ahead" for Atkinsrealis Group, believing the market is getting "more comfort" with its forward trajectory and seeing an "enhanced level of confidence in hitting the margin targets [and the] only risk is material capital deployment once 407 is gone." The Montreal-based engineering company's shares jumped 5.8 per cent on Thursday after it announced at its Investor Day event that it aims to sell its interest in Toronto's Highway 407 ETR toll road within three years. This move is part of the company's strategic revamp that it believes has re-energized the business. Mr. Sytchev says, "Management presentations, strength of the underlying market, and the changed set-up for the nuclear business, makes us think that further share price appreciation should be achievable, especially in the context of sell-side estimates not fully baking in the new 2027E guidance."

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