RE:Raymond James'
IBG Globe says Bastien elevates IBI Group to "outperform"
Thu Nov 15 06:58:40 2018 EDT
IBI Group Inc (TSX:IBG) Shares Issued 31,220,877 Last Close 11/14/2018 $4.72 Wednesday November 14 2018 - In the News
The Globe and Mail reports in its Wednesday, Nov. 14 , edition that with a "favourable" outlook in Western Canada and expecting new technology platforms to make an impact in 2019, Raymond James analyst Frederic Bastien elevated his rating for IBI Group ( $4.66 ) to "outperform" from "market perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Bastien boosted his share target by 50 cents to $7 . Analysts on average target the shares at $7.88 . Mr. Bastien says in a note: "We see Canada as a source of strength as the services firm continues to focus on the ever growing transportation market across the nation and bids on upcoming LRT projects in Edmonton , Surrey , and Vancouver . The modus operandi in the U.S. calls for further streamlining of the operations and growth across all three key platforms, particularly in California . The 2Q18 acquisition of Green Owl is already positively impacting on the intelligence practice in the U.S.and, we believe, poised to bridge the gap for IBI's Smart City platform in the future.... The outlook for IBI's technology platform rings positive to us, and we are particularly constructive on the diversity these platforms will bring to the firm."
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IBG-TC
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