Our report on Aecon is updated and rated Weak Sell / Hold at $14.22. The company reported sharply higher earnings in Q3. But it seems that this was entirely due to government emergency wage subsidies without which earnings would have declined. Perhaps I am being overly conservative by deducting what they described as the net benefit of that which then shows that adjusted earnings declined. This company is interesting because it is should benefit from government stimulus of infrastructure although that takes time. But it also has a relatively poor recent history of profits and growth. Overall it does not seem attractive but I will likely keep the small position I have in it and continue to monitor.