TD Cowen analyst Michael Tupholme maintained a Buy rating on AtkinsRealis yesterday and set a price target of C$125.00.
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Michael Tupholme has given his Buy rating due to a combination of factors, including AtkinsRealis’s strong performance in the third quarter of 2025, where the company exceeded expectations in its Nuclear segment. The adjusted EBITDA for the PS&PM segment was higher than anticipated, primarily driven by better-than-expected results in the Nuclear division. Additionally, the company achieved a record backlog in its services segment, indicating robust demand and future revenue potential.
Despite a downward revision in the 2025 organic revenue growth guidance for the Engineering Services Regions segment, AtkinsRealis remains optimistic about a rebound in growth by the fourth quarter of 2025. Furthermore, the company has raised its revenue guidance for the Nuclear segment, reflecting ongoing momentum and expansion opportunities, particularly in Canada and international markets. These factors, combined with a strategic focus on capital allocation towards acquisitions, underpin Tupholme’s positive outlook and Buy rating for the stock.
In another report released on November 14, Canaccord Genuity also maintained a Buy rating on the stock with a C$121.00 price target.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNCAF in relation to earlier this year.