Aecon Group Inc T.ARE

Rating update copied from TDWBDI ;>O

[TimeBuilder]

Note: Current Yield @ 5.576%  Quarterly  >>   
Ratings change for Jul. 10, 2022 - Jul. 16, 2022

Date

Symbol

Brokerage

Analyst Name

Analyst Ranking out of 7,918

Current Rating

Current Target

11 Jul. 2022

ARE

Stifel Nicolaus

Ian Gillies

7,768

HOLD

$14.00

[mydividends]

Damn, that's quite a price change outlook, from $18.00 to $14.00 per share. Shares got hit hard today with this news and overall bad market. Analysts have price targets now from $14.00 to $20.00, which is quite the range. Further proof they have no clue though. Hard to put any faith in their projections. Overreaction, setting up for another buying opportunity. 

[Dividends]

Why is Aecon so affected by bank rates? do they not have provisions in their contracts that backlog contracts are subject to rate hikes based on inflation? 

[mydividends]

Recent Analyst Note: "Heading into the second half of 2022, the prospect of an economic recession seems increasingly likely. While E&C and Dealership firms are indicating that backlog remains robust, it seems more probable that projects in the pipeline will need to be reworked because of inflationary pressures (i.e., “sticker shock”) and hence delayed (or canceled). To reflect this risk

[mydividends]

But my bad for buying more, knowing my luck, that was the real reason for the drop haha. Ridiculous