07:57 AM EDT, 03/11/2024 (MT Newswires) -- Dexterra Group Inc. (DXT.TO) was upgrade to Outperform from Market Perform at Raymond James on Monday.
Analyst Frederic Bastien raised its price target on shares of the Canadian facilities management, workforce accommodations, modular construction, forestry, and energy services company to $8 from $7.
"In conjunction with the release of weaker-than-expected 4Q23 results, Dexterra Group announced its decision to exit modular construction," Bastien said in a note to clients.
"We view an impending sales of Modular Solutions (MS) as unequivocally positive to the extent the segment's unrelenting struggles have curbed cash flow generation, handicapped valuation and distracted management from the Integrated Facilities Management (IFM) prize," the analyst said. "With this in mind, we are upgrading DTX."
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