BQE Water, the Utilities sector company, was revisited by a Wall Street analyst yesterday. Analyst Nicholas Cortellucci from Atrium Research maintained a Buy rating on the stock and has a C$80.00 price target.
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Nicholas Cortellucci has given his Buy rating due to a combination of factors that highlight BQE Water’s strong market position and technical expertise. The extension of BQE’s contract at the Eagle Gold Mine until October 2025 demonstrates the company’s ability to secure long-term partnerships, especially in challenging situations like the emergency water treatment following a heap leach failure. This successful intervention not only showcases BQE’s technical leadership but also strengthens its reputation as a reliable partner for complex water treatment projects.
Furthermore, BQE Water’s financial performance is expected to show significant growth, with anticipated Q2 proportional revenue of $7.2 million, marking a 19% year-over-year increase, and an adjusted EBITDA of $2.2 million, reflecting a 30% margin and a 64% year-over-year growth. These financial metrics, combined with BQE’s proven track record in the Yukon and potential for future client engagements, underpin Cortellucci’s confidence in maintaining a Buy rating and a target price of $80.00 per share.
According to TipRanks, Cortellucci is ranked #8958 out of 9863 analysts.