Michael Tupholme, an analyst from TD Cowen, maintained the Buy rating on WSP Global. The associated price target is C$330.00.
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Michael Tupholme has given his Buy rating due to a combination of factors including WSP Global’s performance in the third quarter of 2025, where the company reported adjusted EBITDA that exceeded market expectations. Despite a reduction in the 2025 organic net revenue growth guidance to mid-single digits, this was influenced by temporary factors, and there is confidence in the company’s potential to regain organic growth momentum in 2026.
Furthermore, WSP Global’s adjusted EBITDA margin showed improvement, and acquisitions have significantly contributed to revenue growth. The backlog remains strong, indicating a solid pipeline of future projects. Although there are challenges such as lower demand for emergency response services and a softer performance in the APAC region, the demand across key markets is stable, supporting a positive outlook for the company.
In another report released today, Stifel Nicolaus also reiterated a Buy rating on the stock with a C$350.00 price target.