Aecon Group Inc. (ARE) Receives a Buy from Canaccord Genuity

By Carrie Williams

In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, Aecon Group Inc. (AREResearch Report). Analyst Yuri Lynk from Canaccord Genuity remains bullish on the stock and has a C$24 price target.

According to TipRanks.com, Lynk is a 4-star analyst with an average return of 3.3% and a 49.8% success rate. Lynk covers the Basic Materials sector, focusing on stocks such as Badger Daylighting Ltd, Stantec Inc, and Fluor Corp.

Currently, the analyst consensus on Aecon Group Inc. is a Strong Buy with an average price target of C$21.83.

Aecon Group Inc.’s market cap is currently C$1.04B and has a P/E ratio of 20.2. The company has a Price to Book ratio of 1.32.

Aecon Group, Inc. engages in construction and infrastructure development. It operates through the following segments: Infrastructure, Industrial, and Concessions. The Infrastructure segment includes all aspects of the construction of both public and private infrastructure, primarily in Canada, and on a selected basis, internationally.

The company’s shares closed on Tuesday at C$17.65.