Concrete Pumping: Climbs as outlook above estimates, brokerages hike PT

Concrete Pumping Holdings

13/01/2021 18:58

** Construction and engineering co's  BBCP.O  shares up 9%
at $4.96
    ** BBCP sees FY 2021 adj EBITDA in range of $105 mln to $110
mln, with midpoint higher than Street estimates of $104.3
mln urn:newsml:reuters.com:*:nGNX4C3p19
    ** Sees FY revenue of $300 mln to $310 mln, with upper end
higher than estimate of $305.2 mln - Refinitiv IBES 
    ** BBCP says it will monitor the pace of recovery across its
markets but believes it is currently well-positioned to navigate
COVID-19 environment
    ** Brokerage D.A. Davidson raises PT to $6 from $5 and
expects the pace of momentum to pick up through this calendar
year, with more compelling prospects for growth in FY22
    ** Stifel raises PT to $6.5 from $5.6, says BBCP is in a
better position to execute on accretive M&A
    ** Stock down 11.4% in the past year

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))