Aecon Group Inc. (ARE.TO) was upgraded to outperform from sector perform at ATB Cormark Capital Markets on Tuesday.
Analyst Chris Murray raised his price target on shares of the Canadian construction and infrastructure development services company to C$57.00 from C$49.00.
"With expectations for significant sustained growth, we view the recent pullback in the shares as a buying opportunity, particularly with ARE regaining full control of Aecon Utilities," Murray said in a note to clients.
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