Investment firm BMO Capital Markets has increased its price target for Badger Infrastructure Solutions (TSE:BDGI) from C$70.00 to C$82.00, according to a research note released on November 7, 2023. This adjustment reflects a growing confidence in the company’s performance as it continues to navigate a competitive landscape.
In a series of updates from various equities research analysts, TD Securities also raised its price target for Badger Infrastructure Solutions, setting it at C$83.00 and recommending a “buy” rating. This announcement came just days after Raymond James Financial downgraded its rating for the company from “outperform” to “market perform,” while simultaneously increasing its price target from C$60.00 to C$72.00.
CIBC has similarly boosted its price objective for Badger Infrastructure Solutions from C$71.00 to C$82.00, reinforcing the bullish sentiment around the stock. In a report dated November 10, Stifel Nicolaus raised its price target from C$86.00 to C$88.00, highlighting a positive outlook for the company’s future.
On October 7, Canaccord Genuity Group increased its price target from C$60.00 to C$71.00 while also issuing a “buy” rating. Currently, five analysts recommend a buy rating for the stock, with one maintaining a hold rating. According to data from MarketBeat, Badger Infrastructure Solutions holds a consensus rating of “Moderate Buy” and an average target price of C$80.29.
Recent Financial Performance
Badger Infrastructure Solutions announced its latest earnings results on November 5, reporting earnings per share of C$0.91 for the quarter. The company generated revenue of C$330.48 million during this period, indicating a solid financial performance. The firm achieved a return on equity of 16.64% and a net margin of 5.71%. Analysts predict that Badger Infrastructure Solutions will post earnings per share of approximately C$3.30 for the current year.
About Badger Infrastructure Solutions
Based in North America, Badger Infrastructure Solutions is a leading provider of non-destructive excavating services. The company’s primary technology, the Badger Hydrovac, is designed for safe excavation around critical infrastructure and in densely populated underground environments. The Badger Hydrovac utilizes a pressurized water stream to liquefy soil covers, which are then removed via a vacuum system and stored in a tank.
As the company continues to receive positive ratings and price adjustments from analysts, it remains well-positioned in the infrastructure sector. Investors are keenly observing its developments as Badger Infrastructure Solutions strives for growth and stability in an evolving market.
