SNC-Lavalin Group (TSE: SNC), one of the world’s largest engineering and construction groups, has been awarded a three-and-a-half-year, C$22 million contract to perform advanced non-destructive examination (ANDE) and related maintenance on the fuel channels of Bruce Power’s CANDU heavy water reactors.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Under the contract, SNC-Lavalin will perform critical inspections and analyses to support the long-term health of the reactor core to make it safer, more sustainable, and produce affordable electricity. SNC has been inspecting Bruce Power’s fuel channels for over six years.
Management Commentary
Sandy Taylor, President, Nuclear, SNC-Lavalin, said: “Our experienced specialists, technicians, engineers, designers, programmers, and software developers align us to execute these types of projects as a one-stop-shop for all reactor inspection and maintenance needs. With access to over 500 patented solutions, we leverage our innovative technology portfolio and use the latest tools to develop industry best practices to manage technically complex challenges with precision.”
Wall Street’s Take
On January 10, RBC Capital analyst Sabahat Khan kept a Buy rating on SNC and set a price target of C$42. This implies 47% upside potential.
Overall, the consensus among Wall Street analysts is that SNC is a Strong Buy based on four Buys.
The average SNC-Lavalin price target of C$44 implies upside potential of 54.3% from current levels.
Download the TipRanks mobile app now
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Related News:
TransAlta Invests C$2M in Ekona Power
Parkland Buys M&M Food Market
Imperial Oil Swings to Profit in Q4, Raises Dividend