In many ways, WSP Global (TSE:WSP) is a pretty big name in professional services. But when it gets together with a powerhouse like Microsoft (MSFT), that only improves things. And investors were certainly feeling the energy from this new teamup, as they sent WSP shares up over 2% in Thursday morning’s trading.
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WSP Global and Microsoft are now engaged in a multi-year partnership agreement that is focused on bringing digital opportunities to the architecture, engineering and construction (AEC) field. Microsoft, already recognized in the field as a major source of digital transformation and AI transformation systems, will be turning to WSP Global for “engineering and science consultancy,” reports note.
WSP will be bringing engineering data and knowledge in for Microsoft to put to use in its software tools, and will also have a hand in Microsoft’s move to deliver “essential facilities” at high speeds and at large scale. Lastly, WSP will also be working with Microsoft to produce a new set of “digital solutions” that will offer new opportunities for growth. Among these will be virtual experts with an artificial intelligence (AI) backing, ways to use “knowledge assets,” and improvements in design paradigms.
A Complete Rebranding
This news comes hot on the heels of another substantial development at WSP Global, as it rolls out a new “brand identity.” In fact, several WSP projects worldwide will be “illuminated in red,” which will offer a striking visual demonstration of places where WSP is working.
The campaign is known as the “Light Up” campaign, and it works to “…bring our global community of about 73,000 professionals together and celebrate the breadth of our services,” reports note. Naturally, WSP will take to all of its channels to show off what all these places look like lit up in bright red, and the end result should be suitably visibly striking to draw in some attention.
Is WSP Global a Good Stock to Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on TSE:WSP stock based on seven Buys assigned in the past three months, as indicated by the graphic below. After a 25.43% rally in its share price over the past year, the average TSE:WSP price target of C$288.43 per share implies 13.07% upside potential.
