SNC-Lavalin Group (SNC), one of the world’s largest engineering and construction groups, was awarded a contract from the Southern Nevada Water Authority (SNWA) to provide professional engineering services for the Lower Las Vegas Wash Stabilization Project.
The project aims to protect existing infrastructure by slowing and preventing channel degradation through the construction of new level control structures for the Lower Las Vegas Wash in the Lake Mead National Recreation Area, improving the water quality of the lake.
George Nash, CEO of SNC-Lavalin’s Atkins North America said that as Lake Mead levels have never been as low as they are now, the structural stability of the Wash is essential to protecting water quality for millions of Americans.
He added that his team is committed to helping manage and protect this finite resource, while meeting the needs of the community and the ecologically sensitive lands of the National Parks Service. (See SNC-Lavalin stock charts on TipRanks)
On September 29, RBC Capital analyst Sabahat Khan reiterated a Buy rating on SNC and raised his price target from C$41 to C$43. This implies 18.9% upside potential.
Overall, consensus among Wall Street analysts is a Strong Buy, based on nine Buys and one Hold. The average SNC-Lavalin price target of C$42.78 implies upside potential of 18.2% to current levels.
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