BMO Retains North American Construction Group's Outperform Rating, C$25 Price Target
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BMO Capital Markets maintains an outperform rating and C$25 price target for North American Construction Group (NOA) following its acquisition of Iron Mine Contracting for $115 million. BMO views NOA's expansion into Australia positively but notes slightly lower oil sands work in 2026. The company is expected to benefit from opportunities in infrastructure, minerals, and defense in North America. NOA's stock was last at $18.32 on the Toronto Stock Exchange, down 2.31%.
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