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Badger Infrastructure downgraded to Market Perform at Raymond James

Raymond James downgraded Badger Infrastructure Solutions (BDGIF) to Market Perform from Outperform with a price target of C$72, up from C$60. The firm’s increased price target reflects both a higher target multiple and a new valuation window, but its new target leaves insufficient upside from current levels to justify an Outperform rating, the analyst tells investors in a preview for the Canadian industrial group.

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