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CIBC Confirms Outperformer Rating on Bird Construction and Raises Target to $65.00

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CIBC Capital Markets maintained its outperformer rating on the shares of Bird Construction (BDT.TO) and raised its price target to C$65.00 from $61.00 after the bank hosted the company for a dinner with its Chief Financial Officer Wayne Gingrich.

The bank's key takeaway is that the company's long-term growth outlook continues to improve, supported by increasing visibility on the data-center opportunity, particularly through its strategic partnership with Bell, as well as multiple levers to drive margin expansion above its 8% 2027 target.

"When combined with the company's self-perform capabilities, growing defense/Arctic opportunity set, and continued M&A optionality, we remain constructive on the name," said analyst Krista Friesen.

Price: $59.53, Change: $+0.73, Percent Change: +1.24%

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