SNC-Lavalin is back in analysts’ good graces

, Income

Raymond James analyst Frederic Bastien boosted his target price on the Montreal-based engineering giant from $47 to $57 on Monday.

After long being out of favour for lagging performance and involvement in multiple corruption scandals, SNCLavalin Group Inc. is once again in the good graces of some analysts. 

Raymond James analyst Frederic Bastien boosted his target price on the Montreal-based engineering giant from $47 to $57 on Monday, after it exceeded his expectations in the first quarter of 2016 on multiple fronts. 

Even while sitting at a 52-week high, Bastien says SNC-Lavalin’s improved execution and the stock’s risk-reward profile to raise the company rating to “outperform.”

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