BMO Capital downgraded North American Construction (NOA) to Market Perform from Outperform with a price target of C$23, down from C$26. The company reported “softer” Q4 results due to cost increases related to its Fargo Moorhead project, the analyst tells investors in a research note. BMO does not expect a material ramp in North American Construction’s results until the second half of 2026 at the earliest. It believes patience is required as the company looks to regain investor confidence.
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- North American Construction reports Q4 adj EPS (C$0.14) vs. C$1.01 last year
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- CORRECTION: North American Construction reports Q4 adj EPS (C$0.14)