02:26 PM EDT, 09/04/2025 (MT Newswires) -- Stifel Canada has reiterated its Buy rating and $34 target on Bird Construction ( BIRDF ) after the company announced its acquisition of Fraser River Pile & Dredge for $82.3 million in cash.

"We like the transaction because it expands company's strategic position in key Western Canadian infrastructure markets, enhances margins, improves per share growth and largely retains robust ROCE metrics," writes analyst Ian Gillies.

The acquisition also builds on Bird's track record of being a smart and disciplined acquirer of businesses.

Gillies believes Bird Construction ( BIRDF ) is to be well positioned to deliver a recovery in organic revenue growth which will propel the stock higher. The recent pullback has also created an attractive entry point with 2026E EV/EBITDA of 5.0x and P/E of 8.0x (prior to this transaction).

Price: 26.00, Change: +3.02, Percent Change: +13.14