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Akanksha Bakshi

RBC Capital & Desjardins Bump Up WSP Global's Price Target - Read Why

WSP Global Inc (TSX:WSP) (OTC:WSPOF) price target has been raised to C$199 from C$197 by RBC Capital analyst Sabahat Khan.

The analyst maintained the Outperform rating on the shares.

The analyst reiterated a positive view on WSP following the announcement of WSP acquiring the Environment & Infrastructure consulting business (E&I) of John Wood Group plc (OTC:WDGJF).

Khan believes this acquisition increases WSP's exposure to the fast-growing Environment end-market and provides further exposure to OECD countries.

The analyst added that the deal also aligns well with the targets included in the company's 2022-2024 Strategic Plan.

Desjardins analyst Benoit Poirier raised the price target on WSP to C$184 from C$177 while maintaining the Buy rating on the shares.

The analyst stated that the John Wood E&I business acquisition checks many boxes for WSP and strengthens its foothold in North America, specifically the U.S.

Poirier mentions that this structural change should continue to drive business for the consulting sector for years to come.

The analyst derives adjusted EPS accretion of 11% in 2024, although he believes there is likely more upside as WSP realizes cross-selling opportunities.

Price Action: WSP shares are trading lower by 1.81% at C$147.72 on TSX on the last check Friday.

Photo Via Company

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