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The latest announcement is out from Aecon Group Inc. ( (TSE:ARE) ).
Aecon Group Inc.’s utilities subsidiary has closed the acquisition of KPC, an Ontario-based contractor specializing in high-voltage testing, commissioning and energy metering solutions, bolstering Aecon Utilities’ technical capabilities in grid-focused services. Management said the deal strengthens Aecon’s position to capture growing opportunities in grid modernization, electrification and infrastructure upgrades and supports its strategy for sustainable growth in the utilities sector, potentially enhancing its recurring revenue base and competitive standing with utility customers in Canada and the U.S.
The most recent analyst rating on (TSE:ARE) stock is a Hold with a C$34.00 price target. To see the full list of analyst forecasts on Aecon Group Inc. stock, see the TSE:ARE Stock Forecast page.
Spark’s Take on TSE:ARE Stock
According to Spark, TipRanks’ AI Analyst, TSE:ARE is a Neutral.
Aecon Group Inc.’s stock score is primarily driven by strong technical momentum and strategic growth initiatives, as evidenced by record revenue and backlog. However, high valuation concerns and profitability challenges weigh on the score.
To see Spark’s full report on TSE:ARE stock, click here.
More about Aecon Group Inc.
Aecon Group Inc. is a North American construction and infrastructure development company with global experience, serving private and public-sector clients. Through its Construction segment, it operates across civil, urban transportation, nuclear, utility and industrial markets, while its Concessions segment provides project development, financing, investment, management, and operations and maintenance services. Aecon Utilities, a key subsidiary, is a leading provider of utility infrastructure solutions in Canada with a growing U.S. presence, focusing on electrical transmission and distribution, renewables and in-home services, telecommunications, and pipeline distribution, with significant recurring revenue from public and large private utility clients.
Average Trading Volume: 418,724
Technical Sentiment Signal: Buy
Current Market Cap: C$2.02B
See more insights into ARE stock on TipRanks’ Stock Analysis page.