AltaCorp Capital Upgrades Aecon Group (ARE) to Outperform

Aecon Group (TSE:ARE) was upgraded by equities research analysts at AltaCorp Capital from a “sector perform” rating to an “outperform” rating in a research report issued on Monday.

A number of other research analysts have also recently commented on the company. National Bank Financial raised their target price on Aecon Group from C$20.00 to C$21.00 and gave the company an “outperform” rating in a research note on Monday. Royal Bank of Canada raised their price objective on Aecon Group from C$18.00 to C$20.00 and gave the company a “sector perform” rating in a research report on Monday. TD Securities raised their price objective on Aecon Group from C$21.00 to C$23.00 and gave the company a “buy” rating in a research report on Monday. Desjardins raised their price objective on Aecon Group from C$21.00 to C$22.00 in a research report on Monday. Finally, CIBC raised their price objective on Aecon Group from C$20.00 to C$21.00 in a research report on Monday. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Aecon Group has a consensus rating of “Buy” and an average price target of C$22.00.

ARE opened at C$18.64 on Monday. Aecon Group has a 52 week low of C$14.27 and a 52 week high of C$20.06.

In related news, Director John Michael Beck sold 20,922 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of C$16.51, for a total transaction of C$345,422.22.

About Aecon Group

Aecon Group Inc provides construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through four segments: Infrastructure, Energy, Mining, and Concessions. The Infrastructure segment is involved in the construction of roads and bridges, and rail and transit systems, as well as in asphalt production and aggregates, municipal construction, commercial site design, and material engineering and design activities.

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