Badger Infrastructure initiated with an Outperform at Raymond James

Raymond James analyst Frederic Bastien initiated coverage of Badger Infrastructure with an Outperform rating and C$52 price target. In recent years, a new leadership team has implemented simple, yet effective strategies to leverage the firm’s strong safety culture, scale advantages and unique manufacturing capabilities into enhanced returns, and the actions are yielding benefits as a perfect storm of secular trends is driving unprecedented growth in Badger’s key target markets of utilities and infrastructure construction, the analyst tells investors in a research note.