Stifel Canada on Friday maintained its buy rating on the shares of WSP Global (WSP.TO) while cutting its price target to C$320.00 from C$360.00 following the company's fourth-quarter results.

"In our view, management did a commendable job providing context to why AI risk is overblown, and it should be enough to provide a relief rally. We think the next 12-24 months will be like the game Whac-a-Mole. For those that don't know this game, the mole suddenly appears and you whack it (AI risk) on the head to make it go away. If successful making the mole (AI risk) go away, there's a prize at the end (higher share price for WSP). There's going to be fits and starts to the AI narrative, but we do think the valuation is too inexpensive for WSP in 2027E at 17.6x P/E, and that it is well-equipped to manage change. We have reduced our target multiple to 24.0x 2027E P/E (prior: 29.0x) to reflect higher risks, but our $320/sh target price still warrants a BUY and Top Pick for 2026E," 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: 230.28, Change: -5.98, Percent Change: -2.53