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Bird Construction Downgraded to Market Perform, Price Target Raised to $55.00 at BMO

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BMO has downgraded Bird Construction (BDT.TO) to market perform from the previous outperform. The price target on Bird's shares have been raised by $3.00, to $55.00.

Analyst John Gibson notes that while Bird reported in-line first-quarter results, with EBITDA margin guidance remaining intact (8% in 2027 vs. 6.5% in 2025), the stock has been "on a tear" to start the year (+75% YTD). Valuation is also moving closer to U.S peers.

"Given the strong outlook for backlog and margin growth, we continue to view the story in a favorable light, although upside could be moderated given recent gains," he writes.

Price: $51.99, Change: $+2.14, Percent Change: +4.29%

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