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Analyst Actions: Raymond James Prefers Aecon, Churchill and Finning to North American Energy Partners, Which Has Hit A Yr Low

Raymond James analyst Ben Cherniavsky cut his price target for North American Energy Partners (NOA.TO) after it reported poor results on Thursday, the Globe and Mail reported. This is the last of three "bad news bombs" the company has reported recently, Cherniavsky reportedly said. The other two were the results it reported in June and its Canadian Natural Resources Ltd. write-down in May. In the infrastructure industry, Cherniavsky recommends that investors buy Aecon, Churchill or Finning as alternatives to NAEP.

Cherniavsky decreased his price target by $2.25 to $6.75 and kept his Market Perform rating. NOA has hit a new year low of $5.07 today.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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