CIBC Increases Aecon Group (TSE:ARE) Price Target to C$35.00

Aecon Group (TSE:ARE) had its price objective hoisted by investment analysts at CIBC from C$29.00 to C$35.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. CIBC’s price target suggests a potential upside of 29.49% from the stock’s previous close.

Several other brokerages have also recently commented on ARE. Raymond James raised their price objective on shares of Aecon Group from C$24.00 to C$28.00 in a research note on Tuesday, November 5th. TD Securities raised Aecon Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$23.00 to C$35.00 in a research report on Monday, November 4th. Canaccord Genuity Group lifted their target price on Aecon Group from C$28.00 to C$33.00 in a report on Monday, November 4th. National Bank Financial lowered Aecon Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Stifel Nicolaus boosted their price target on Aecon Group from C$30.00 to C$31.00 in a research report on Friday, October 4th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$27.53.

Aecon Group Stock Up 1.0 %

ARE stock opened at C$27.03 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.27 and a debt-to-equity ratio of 32.86. The stock has a market cap of C$1.69 billion, a P/E ratio of -100.11, a PEG ratio of 18.18 and a beta of 1.13. The company’s 50 day moving average is C$26.10 and its two-hundred day moving average is C$20.26. Aecon Group has a twelve month low of C$11.75 and a twelve month high of C$29.70.

About Aecon Group

Aecon Group Inc, together with its subsidiaries, provide construction and infrastructure development services to private and public sector clients in Canada, the United States, and internationally. It operates through two segments, Construction and Concessions. The Construction segment focuses on civil infrastructure, urban transportation solutions, nuclear power infrastructure, utility infrastructure, and conventional industrial infrastructure market sectors.