In a report released yesterday, John Gibson CFA from BMO Capital reiterated a Buy rating on Bird Construction, with a price target of C$35.00.
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John Gibson CFA has given his Buy rating due to a combination of factors including Bird Construction’s strong quarterly performance and robust bidding activity. The company reported a significant increase in its backlog to near-record levels, driven by approximately $1.2 billion in new awards during the second quarter. This strong performance is further supported by rising margins, which have shown a year-over-year improvement.
Despite some anticipated challenges in the latter half of the year due to macroeconomic uncertainties, Bird Construction remains committed to its long-term strategic goals. The management has reiterated its 2027 targets, aiming for substantial organic revenue growth and improved EBITDA margins. The company’s healthy balance sheet and strong M&A pipeline position it well to capitalize on future opportunities, reinforcing the positive outlook and resulting in the Buy rating.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a C$35.00 price target.