CIBC upgraded North American Construction (NOA) to Outperformer from Neutral with a price target of C$38, up from C$30, as the analyst took over coverage of the stock. The firm, which expects that the annual oil sands re-contracting cycle will be “an ongoing uncertainty,” sees North American Construction Group’s business being “difficult for customers to displace” and views the company as “an underappreciated growth story.”
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Read More on NOA:
- North American Construction Group Lands Major Contract
- North American Construction sees FY25 adjusted EPS $4.15-$4.45
- North American Construction announces regional services contract
- North American Construction sees Q4 adjusted EPS $1.00-$1.10
- North American Construction price target raised to C$45 at National Bank