TD Securities lowered its price target on WSP Global (WSP.TO) to C$255 from C$307 on Tuesday.
Analyst Michael Tupholme maintained a Buy rating on shares of the Canadian engineering and professional services company.
"WSP's proposed acquisition of Arcadis is expected to yield healthy synergies and be accretive," Tupholme said in a note to clients. "However, there is uncertainty on terms, soft revs/EBITDA are a concern to some, and the deal isn't alleviating existing investor concerns re: AI risks."
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