Michael Tupholme, an analyst from TD Cowen, maintained the Buy rating on WSP Global. The associated price target is C$307.00.
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Michael Tupholme has given his Buy rating due to a combination of factors that point to attractive risk‑reward for WSP Global. He expects an improving backdrop in 2026, with faster organic growth and better margins, underpinned by a particularly strong Power & Energy business that is expanding at a double‑digit pace and is being reinforced by the TRC acquisition.
He also highlights that the APAC region, currently the soft spot, is showing signs that should lead to a return to positive organic growth by the third quarter of 2026. While acknowledging that AI‑related uncertainty may continue to cap valuation multiples in the near term, he sees earnings growth alone supporting a roughly high‑teens percentage return, with additional upside if the multiple re‑rates from what he views as a trough level at the lower end of WSP’s five‑year EV/EBITDA range.
According to TipRanks, Tupholme is a 5-star analyst with an average return of 17.7% and a 65.98% success rate. Tupholme covers the Industrials sector, focusing on stocks such as Aecon Group Inc., Stantec, and WSP Global.
In another report released today, RBC Capital also reiterated a Buy rating on the stock with a C$325.00 price target.