RBC Capital analyst Sabahat Khan upgraded Stantec to Outperform from Sector Perform with a price target of C$84, up from C$71. The company reported Q4 results that were in line to ahead of estimates while the 2023 guidance was ahead of Street forecasts, the analyst tells investors in a research note. The firm believes Stantec is well positioned heading into 2023, supported by the company’s "meaningful" U.S. exposure and "solid" balance sheet, which it says provides ample optionality for acquisitions and/or return of capital.
Published first on TheFly
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