Analyst Nicholas Cortellucci of Atrium Research maintained a Buy rating on BQE Water, with a price target of C$108.00.
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Nicholas Cortellucci has given his Buy rating due to a combination of factors, including BQE Water’s continued success in securing new operating contracts and its established technical role at the Keno Hill sites. He highlights that the latest agreement with Elsa Reclamation & Development Company for the 2026 season, which covers both legacy treatment systems and the newly built Valley Tailings Facility that BQE designed and commissioned, strengthens the company’s operating pipeline.
He also underscores that this is the fifth contract win since December, coming on the back of record 2025 results, which supports confidence in sustained revenue growth that was already embedded in his forecasts. In addition, he points to BQE’s proven Yukon operating team and partnerships with local Indigenous-owned contractors as competitive advantages that improve execution certainty and bolster the rationale for maintaining a Buy rating and a $108 per share target price.