CIBC Capital Markets maintained its outperformer rating on the shares of AtkinsRealis Group (ATRL.TO) while lowering its price target to $120 from $125 after the company reported its first quarter financial results on Thursday.
The bank's 2026 adjusted EBITDA forecast "largely remains unchanged" as the company maintained its guidance for the year and moved its 2027 adjusted EBITDA forecast to $1.33 billion from $1.30 billion.
"While we continue to see the broader engineering space come under pressure due to AI fears, ATRL is outperforming on a relative basis, which we attribute to its unique nuclear exposure," said analyst Krista Friesen. "We maintain our Outperformer rating and our price target moves from $125 to $120 as we reduce the multiple we apply to the ESR business to reflect broader industry uncertainty."
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Price: $83.53, Change: $-2.17, Percent Change: -2.53%