TD Newcrest Downgrades Stantec Inc. (STN) to Hold; Q4/11 Miss & Goodwill Impairment Charge
Tweet
Share
E-mailGet Alerts STN Hot Sheet
Price: $74.07 +0.26%
Rating Summary:
6 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 6 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
TD Newcrest downgraded Stantec Inc. (NYSE: STN) from Buy to Hold, price target lowered C$1 to C$34.00.
TD analyst said, "Despite the quarterly miss and other issues, encouragingly, our outlook for Stantec over the next few years is largely unchanged. We continue to forecast a gradual improvement in Stantec's overall organic revenue growth and a pick-up in acquisition activity after a slower 2011. That said, given the strong share price gains that Stantec has realized over the last few quarters, we no longer see sufficient return to our target to justify continuing to recommend investors buy the stock (note: even after yesterday's nearly 5% decline, Stantec's stock price is up more than 30% since mid-September 2011, far outpacing its closest peers and the broader market)."
For an analyst ratings summary and ratings history on Stantec Inc. click here. For more ratings news on Stantec Inc. click here.
Shares of Stantec Inc. closed at $30.20 yesterday.
TD analyst said, "Despite the quarterly miss and other issues, encouragingly, our outlook for Stantec over the next few years is largely unchanged. We continue to forecast a gradual improvement in Stantec's overall organic revenue growth and a pick-up in acquisition activity after a slower 2011. That said, given the strong share price gains that Stantec has realized over the last few quarters, we no longer see sufficient return to our target to justify continuing to recommend investors buy the stock (note: even after yesterday's nearly 5% decline, Stantec's stock price is up more than 30% since mid-September 2011, far outpacing its closest peers and the broader market)."
For an analyst ratings summary and ratings history on Stantec Inc. click here. For more ratings news on Stantec Inc. click here.
Shares of Stantec Inc. closed at $30.20 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Viking Holdings (VIK) PT Raised to $82 at Mizuho
- Beike (BEKE) PT Raised to $23 at Morgan Stanley
- Walmart (WMT) PT Lowered to $125 at JPMorgan, Overweight Rating Maintained as 'Short Case Feels Greedy'
Create E-mail Alert Related Categories
Analyst EPS View, Analyst PT Change, DowngradesRelated Entities
TD NewcrestSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
