CIBC Boosts Aecon Group (TSE:ARE) Price Target to C$29.00

Key Points

• CIBC raised its price target for Aecon Group from C$24.00 to C$29.00, suggesting a potential upside of 15.86% from the current price.
• Several other analysts have also upgraded their targets for Aecon Group, with average ratings leaning towards "Buy" and a consensus price target of C$24.91.
• Aecon Group's stock recently traded at C$25.03, slightly down 0.1%, with a market cap of C$1.59 billion and a P/E ratio of 59.60.

Aecon Group (TSE:ARE - Get Free Report) had its price target boosted by equities research analysts at CIBC from C$24.00 to C$29.00 in a report issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. CIBC's target price indicates a potential upside of 15.86% from the stock's current price.

ARE has been the topic of a number of other reports. National Bankshares increased their target price on shares of Aecon Group from C$23.00 to C$26.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. TD Securities boosted their price objective on shares of Aecon Group from C$22.00 to C$23.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. BMO Capital Markets raised their target price on shares of Aecon Group from C$19.00 to C$22.00 in a report on Tuesday, July 22nd. Stifel Nicolaus lifted their target price on Aecon Group from C$19.00 to C$24.00 and gave the company a "hold" rating in a research note on Monday. Finally, Canaccord Genuity Group increased their price target on Aecon Group from C$25.00 to C$29.00 in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Aecon Group has an average rating of "Buy" and a consensus price target of C$24.91.

Aecon Group Stock Down 0.1%

Shares of Aecon Group stock traded down C$0.03 on Monday, hitting C$25.03. 283,277 shares of the company's stock traded hands, compared to its average volume of 403,445. The stock has a market cap of C$1.59 billion, a P/E ratio of 59.60, a PEG ratio of 18.18 and a beta of 1.48. The company has a quick ratio of 1.27, a current ratio of 1.19 and a debt-to-equity ratio of 32.84. Aecon Group has a 52-week low of C$15.21 and a 52-week high of C$29.70. The firm's 50-day moving average is C$21.36 and its 200 day moving average is C$19.54.

About Aecon Group

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects.

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