SNC-Lavalin Gets Fuel Channel Inspection Contract at Bruce Power

SNC-Lavalin Group (TSE: SNC), one of the world’s largest engineering and construction groups, has been awarded a three-and-a-half-year, C$22 million contract to perform advanced non-destructive examination (ANDE) and related maintenance on the fuel channels of Bruce Power’s CANDU heavy water reactors.

Under the contract, SNC-Lavalin will perform critical inspections and analyses to support the long-term health of the reactor core to make it safer, more sustainable, and produce affordable electricity. SNC has been inspecting Bruce Power’s fuel channels for over six years.

Management Commentary

Sandy Taylor, President, Nuclear, SNC-Lavalin, said: “Our experienced specialists, technicians, engineers, designers, programmers, and software developers align us to execute these types of projects as a one-stop-shop for all reactor inspection and maintenance needs. With access to over 500 patented solutions, we leverage our innovative technology portfolio and use the latest tools to develop industry best practices to manage technically complex challenges with precision.”

Wall Street’s Take

On January 10, RBC Capital analyst Sabahat Khan kept a Buy rating on SNC and set a price target of C$42. This implies 47% upside potential.

Overall, the consensus among Wall Street analysts is that SNC is a Strong Buy based on four Buys.

The average SNC-Lavalin price target of C$44 implies upside potential of 54.3% from current levels.

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