Stantec Buy Rating Reiterated at Stifel Canada Following Q3 Results; Price Target Lowered to C$169.00

MT Newswires Live
Nov 18

Stifel Canada on Monday reiterated its buy rating on the shares of Stantec (STN.TO, STN) while lowering its price target to C$169.00 from C$175.00 following third-quarter results from the engineering and design company.

"Stantec posted a solid 3Q25, which we consider the strongest of the three engineering firms in our coverage. Our revenue and EBITDA estimates only undergo modest changes, while EPS is negatively impacted by higher lease depreciation expense. The investment thesis on this stock is unchanged and hinges upon MSD organic growth rates (which we view as achievable) and an active M&A program (which should kick off again in the next few months). We view Stantec as a core holding. Our TP falls to $169/sh from $175/sh due to lower 2027E EPS. Our BUY rating is maintained," analyst Ian Gillies wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 142.36, Change: -6.27, Percent Change: -4.22

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