Bird Construction Inc.: Analysts Update Coverage on Acquisition

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Bird Construction Inc:

Company Overview

Bird Construction Inc. (TSX: BDT) operates in the engineering and construction sector and holds a market capitalization of CAD 1.24 billion. The company is recognized for its diverse portfolio of projects ranging from commercial buildings to civil infrastructure.

Analyst Ratings and Target Prices

Multiple analysts have provided their ratings and target prices for Bird Construction Inc., reflecting a varied but generally positive outlook on the company’s stock performance. Here is a detailed breakdown of these ratings and target prices:

  1. TD Securities
    • Rating: Buy
    • Target Price: CAD 25
    • Analyst Grade: A (93%)
    • Date: June 11, 2024
    • Commentary: TD Securities maintains a “Buy” rating with a target price of CAD 25, indicating strong confidence in Bird Construction’s growth prospects and financial health. This target suggests a potential upside from the current price.
  2. National Bank Financial
    • Rating: Sector Perform
    • Target Price: CAD 23 (Target Up)
    • Analyst Grade: C+ (77%)
    • Date: June 11, 2024
    • Commentary: National Bank Financial has upgraded their target price to CAD 23 while maintaining a “Sector Perform” rating. This suggests a balanced view, recognizing potential growth while remaining cautious about broader market conditions.
  3. STA Research
    • Rating: Underperform
    • Target Price: CAD 14
    • Analyst Grade: B (84%)
    • Date: June 11, 2024
    • Commentary: STA Research maintains an “Underperform” rating with a lower target price of CAD 14. This rating indicates concerns about the company’s near-term prospects or specific challenges it might be facing within the industry.
  4. Stifel Nicolaus
    • Rating: Buy
    • Target Price: CAD 30
    • Analyst Grade: C- (71%)
    • Date: June 11, 2024
    • Commentary: Stifel Nicolaus is highly optimistic with a “Buy” rating and a target price of CAD 30, reflecting significant expected growth and strong performance potential for Bird Construction.
  5. BMO Capital Markets
    • Rating: Outperform
    • Target Price: CAD 29 (Target Up)
    • Analyst Grade: C (76%)
    • Date: June 11, 2024
    • Commentary: BMO Capital Markets has increased its target price to CAD 29, maintaining an “Outperform” rating. This suggests strong confidence in Bird Construction’s ability to exceed market expectations and deliver robust results.

Stock Performance and Analysis

  • Current Stock Price: CAD 21.55
  • Recent Change: -8.45% (reflecting recent volatility or market adjustments)
  • Stock Target Advisor Rating: Buy (Bullish sentiment based on their analysis)

Stock Target Advisor’s analysis is “Bullish,” supported by various positive signals, indicating a favorable outlook for Bird Construction’s stock despite recent price drops. This bullish sentiment is aligned with the overall positive ratings from several analysts, suggesting a potential recovery and growth in stock price.

Based on the Bird Construction Inc. stock forecast from 11 analysts, the average target price for Bird Construction Inc. is CAD 21.55 over the next 12 months. The company has an average analyst rating of Buy. Stock Target Advisor’s own analysis of Bird Construction Inc. is Bullish, based on 11 positive signals and 3 negative signals. At the last closing, Bird Construction Inc.’s stock price was CAD 23.54. The stock price has increased by 8.83% over the past week, 14.55% over the past month, and 178.25% over the last year.

Outlook

Bird Construction Inc. is receiving mixed but generally positive reviews from analysts. While there is a broad consensus on the stock’s potential for growth, reflected in higher target prices from firms like TD Securities, Stifel Nicolaus, and BMO Capital Markets, some caution remains as indicated by National Bank Financial’s “Sector Perform” rating and STA Research’s “Underperform” rating.

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