Stock price when the opinion was issued
Very strong portfolio of engineering and design and consulting. Plays into infrastructure, energy, and environment. Focus on nuclear will be important, with 15% of revenue coming from there. If Hwy 407 were sold at a good price, would be a catalyst to create value (but he wouldn't buy something just because there might be a deal down the road). Yield is 0.1%.
(Analysts’ price target is $70.31)
Has been in transition over the last couple of years. Feels all of the scandals they had, a couple of years ago are pretty much behind them. New CEO has done a very good job of weeding out that element of the company. Have been making great gains in getting contracts, particularly domestically. It is now priced at a point where it is probably close to 20X earnings and is selling at over 4X Book Value. On ROE, they are going to earn about $3 on a BV of $14, and this is a little bit rich.