Q: Hi Stantec stock has soared following the recent financing and the Dec 5 Investor Day, Analysts have been falling over each other to bump up their price targets, What would be a reasonable and possible price level to add to an existing position ? Thank You
5i Research Answer:
We are big believers in positive momentum, and the stock is already more than $10 higher than its recent issue price. These scenarios, at times, can be very hard to 'catch' at a good price. On Tuesday it set a new revenue target of $7.5B by 2026. With recent news and targets, we think $100 would be attractive, if it were to check back and consolidate.