Aecon Group Upgraded to Buy by Canaccord Genuity (ARE)
Aecon Group (TSE:ARE) was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Stock Ratings Network.com reports. The firm currently has a C$20.00 target price on the stock, up from their previous target price of C$14.00. Canaccord Genuity’s price objective points to a potential upside of 25.39% from the stock’s previous close.
Aecon Group (TSE:ARE) traded up 0.06% during mid-day trading on Wednesday, hitting $15.96. 144,198 shares of the company’s stock traded hands. Aecon Group has a 1-year low of $10.32 and a 1-year high of $16.40. The stock’s 50-day moving average is $15.84 and its 200-day moving average is $14.03. The company has a market cap of $839.7 million and a price-to-earnings ratio of 12.36.
Several other analysts have also recently commented on the stock. Analysts at Dundee Securities raised their price target on shares of Aecon Group from C$18.00 to C$19.00 in a research note to investors on Monday, January 13th. They now have a “buy” rating on the stock. Separately, analysts at Raymond James raised their price target on shares of Aecon Group to C$16.00 in a research note to investors on Tuesday, December 3rd. Finally, analysts at Raymond James downgraded shares of Aecon Group from a “strong-buy” rating to an “outperform” rating in a research note to investors on Monday, December 2nd. They now have a C$18.00 price target on the stock, up previously from C$16.00. Seven analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus price target of C$17.50.
Aecon Group Inc (TSE:ARE) is a provider of construction, contracting and infrastructure development services across Canada.
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