Stantec Updated March 14, 2017

Stantec is updated and rated Buy at $34.25 or U.S. $26.45. The company does not appear to be undervalued based on trailing earnings. However, it appears that earnings per share are set to increase sharply in the range of 25% in 2017 as the economic recovery continues and more particularly as the earnings from a very large acquisition that it closed in May of 2016 will be present for a full year and also acquisition-related expenses should decline. This has been an exceptionally well managed Canadian company. This company represents about 3% of my portfolio and I would like to increase that.