TSX:WSP - Post Discussion
Post by
retiredcf on Mar 01, 2024 8:49am
Multiple Raised Targets
CIBC’s Jacob Bout raised his WSP Global Inc. target to $239 from $234 with an “outperformer” rating. Other changes include: Scotia’s Michael Doumet to $239 from $233 with a “sector outperform” rating, Stifel’s Ian Gillies to $245 from $210 with a “buy” rating, Desjardins Securities’ Benoit Poirier to $243 from $210 with a “buy” rating, National Bank’s Maxim Sytchev to $234 from $212 with an “outperform” rating, ATB Capital Markets’ Chris Murray to $220 from $210 with a “sector perform” rating. The average is $222.14.
“WSP delivered solid results, as organic growth and margin expansion underpinned a better-than-expected margin profile,” said Mr. Murray. “Management issued guidance for healthy organic growth (5-8 per cent) and margin expansion, reaffirming that it sees a path to 20.0-per-cent EBITDA margins over the medium term. While WSP enters 2024 on a strong footing with margins trending higher and balance sheet capacity in place to be acquisitive, valuations remain elevated, leaving us neutral on shares.”
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