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NEWS

ECONOMIC RESEARCH AND STRATEGY
26 Feb 2021The 2021 Alberta Budget – Fiscally Energized Short-Term, New Anchors to Guide the Medium-Term Path
19 Feb 2021Despite the rally, the Canadian dollar remains undervalued relative to its fundamentals
11 Feb 2021Ontario Third Quarter Finances –The deficit remains unchanged despite economic volatility
18 Jan 2021Provincial Economic Forecasts - January 2021
14 Jan 2021Nova Scotia Budget Forecast Update - Under Controlled Pandemic Leads to Fiscal Improvement
12 Jan 20212021 Economic and Financial Outlook – A Roadmap to Navigate a New Normal
18 Dec 2020Manitoba Mid-Year Report - Federal Transfers Provide Near-Term Relief But the Second Wave Remains Challenging
18 Dec 2020BC Fall Update – Additional Financial Support Leads
09 Dec 2020Bank of Canada (Dec. Decision) - No change in forward guidance - look for an eventful 2021
01 Dec 2020Canada Fall Economic Statement 2020
INSTITUTIONAL EQUITY RESEARCH
26 Feb 2021 AR — Lower Q4 Costs, but Trimming Target to $6 on Guidance
26 Feb 2021 AR Reports Q4 Results with Record Revenue, Earnings, and Cash Flow
26 Feb 2021 Aecon Q4-20 — Double-Digit Beat Across the Board, 9% Dividend Bump
26 Feb 2021 WSP Q4-20 In Line, Continued Margin Expansion; Taking up TP to $126
26 Feb 2021 TCS Q3-F21 Results Beat, Pipeline Strengthens; TP Up to $60
26 Feb 2021 STN Positively Surprises, Upgrading to a Buy and Taking up TP to $56
25 Feb 2021 AGI — Let the Good Times Roll with Another Strong Quarter
25 Feb 2021 WSP Q4-20 In Line; Guidance Calls for Continued Margin Expansion
25 Feb 2021 TCS Q3-F21 Initial Take — Results Beat but Bookings Down on Contract Deferrals
25 Feb 2021 STN Q4-20 Results In Line; Dividend raised 6.5%, 2022 Targets Pushed out 1 Year

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