BDI... Target increase Raymond James analyst Frederic Bastien increased his target for Black Diamond Group Ltd. (BDI-T) to $4.50 from $4.10, keeping an “outperform” rating. The average is $3.33.
“We see BDI’s leverage declining more meaningfully than previously anticipated over 2021,” he said. “The company entered the year with momentum, having not only accelerated the expansion of its Modular Space Solutions (MSS) segment with the acquisition of US-based Vanguard, but also secured a grant to transition its digital workplace travel platform, LodgeLink, from concept to scale. More recently, however, good news has been coming from Workforce Solutions (WFS). Year-to-date, the segment has already secured over $36 mln of revenue for a sizable infrastructure project in Australia, change orders related to assets in support of the Coastal GasLink construction in B.C., and additional sales and rental projects in Eastern Canada. In light of these developments, and signs that the Canadian oil patch is open for business again, we are optimistic the bottom is in for WFS.”