Bird Construction Inc. (BDT.TO) was upgraded to Outperformer from Neutral at CIBC Capital Markets on Friday.

Analyst Krista Friesen lowered her price target on shares of the Canadian construction company to $31 from $36 following its quarterly results released after market close on Wednesday.

"After posting solid Q4 results with a margin above our and Street expectations, we were surprised to see BDT shares trade down," Friesen said in a note to clients.

"The company reiterated the long-term guidance it had issued at its Investor Day in October, and provided commentary around 2025 that was in line with our expectations," the analyst said.

"We were previously of the thought that the market had largely priced in strong execution by BDT against the targets it had laid out; however, with shares of the company now down ~22% YTD and ~37% since its Investor Day, we view current levels as a compelling entry point," Friesen said.

(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: 21.74, Change: +1.31, Percent Change: +6.41