North American Construction Group Kept at Outperform at BMO After Q4 Results; Price Target Cut to C$34.00

MT Newswires Live03-20

BMO Capital Markets on Thursday reiterated its outperform rating on the shares of North American Construction Group (NOA.TO, NOA) while trimming its price target to C$34.00 from C$35.00 following the company's fourth-quarter results.

"NOA's Q4/24 results were in line with expectations, while the company's 2025 guidance range of $415-445 million was maintained. We continue to appreciate NOA's inexpensive valuation, and expect recent contract extensions/wins provide greater visibility for 2025 results. Post quarter, we adjust our target price to $34 ($35 prior), which reflects ~3.5x 2026E EV/EBITDA. We reiterate our Outperform rating," analyst John Gibson wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 24.15, Change: -0.72, Percent Change: -2.90

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