Badger Infrastructure Solutions (TSE:BDGI) has seen its price target increased to C$82.00 by BMO Capital Markets in a research note issued on November 5, 2023. This adjustment reflects a growing confidence in the company’s potential amid recent financial performances and analyst evaluations.
In addition to BMO’s revision, several other financial institutions have also reassessed their outlooks for Badger Infrastructure. TD Securities upgraded their price objective from C$70.00 to C$83.00, providing a “buy” rating. This change was noted in a report released on the same day as BMO’s announcement.
On October 22, Raymond James Financial adjusted their rating from “outperform” to “market perform,” while simultaneously raising their price target from C$60.00 to C$72.00. This mixed sentiment highlights the volatility in investor expectations surrounding the company. Additionally, CIBC lifted their price objective from C$71.00 to C$82.00 shortly after, indicating a strong belief in the company’s growth trajectory.
Furthermore, Stifel Nicolaus also increased their price target for Badger Infrastructure, moving it from C$86.00 to C$88.00. Meanwhile, Canaccord Genuity Group raised their target from C$60.00 to C$71.00, maintaining a “buy” rating in their analysis on October 7.
Currently, five analysts have rated Badger Infrastructure Solutions with a “Buy” rating, while one has issued a “Hold” rating. According to data from MarketBeat, the stock enjoys a consensus rating of “Moderate Buy” and an average target price of approximately C$80.29.
Recent Earnings Performance
Badger Infrastructure Solutions reported its earnings on November 5, revealing earnings per share of C$0.91 for the quarter. The company generated revenue of C$330.48 million, showcasing a solid financial performance. The firm recorded a return on equity of 16.64% and a net margin of 5.71%, indicating effective management of both equity and revenue.
Analysts predict that Badger Infrastructure Solutions will post earnings per share of approximately C$3.30 for the current fiscal year, further underscoring the company’s expected growth.
About Badger Infrastructure Solutions
Badger Infrastructure Solutions Ltd is recognized as North America’s leading provider of non-destructive excavating services. The company’s signature technology, the Badger Hydrovac, is primarily utilized for safe excavation operations around critical infrastructure and in congested underground settings. This innovative equipment uses a pressurized water stream to liquefy soil, which is then removed via a powerful vacuum system and collected in a storage tank.
As the demand for safe and efficient excavation services continues to grow, Badger Infrastructure Solutions appears well-positioned to capitalize on these opportunities, bolstered by positive analyst sentiments and recent financial results.
