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AtkinsRealis' Acquisition of WGA "Positive", Says Stifel Canada

-- Stifel Canada views AtkinsRealis Group's (ATRL.TO) acquisition of privately held WGA, an 800-person engineering consultancy based in Australia and New Zealand, positively.

In a note, analyst Ian Gillies, who has raised AtkinsRealis' price target by $1.00 to $115.00 and maintained a buy rating on the shares, said the WGA acquisition is estimated to increase the company's 2026E/2027E EBITDA by 1.2% and 1.7%, respectively.

Gillies estimates the acquisition cost to be approximately $261 million at a transaction multiple of 10.0x EV/EBITDA. "Importantly, the company has over $3.2 billion of internal dry powder, which will continue to drive active M&A executions."

Price: $91.17, Change: $-0.51, Percent Change: -0.56%

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