12:14 PM EDT, 09/28/2022 (MT Newswires) -- National Bank on Tuesday evaluated whether WSP Global Inc. (WSP.TO) needs to submit a counter bid for RPS Group plc (LSE: RPS) after Tetra Tech (NASDAQ: TTEK) reached an agreement to buy RPS with a competing offer.
While considering its options, National Bank said WSP needs to consider that RPS is not the only asset of quality that could become available over the next three to 12 months.
Also, the analysts said if WSP tried to stop Tetra Tech from scaling up its UK presence it could be viewed as a defensive move given WSP's size and footprint in the region as compared to Tetra Tech.
The analysts also believe WSP can achieve its $10 billion revenue target by 2024 even without RPS.
National Bank has maintained an outperform rating with a $181 price target.
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