** Shares of Canadian construction firm SNC-Lavalin Group Inc jump 5.5% to C$25, after co tasks newly appointed interim president and CEO to review co’s “strategic direction”
** Chief Operating Officer Ian Edwards succeeds outgoing president and CEO Neil Bruce, in interim capacity
** SNC said last month its board had formed a special committee to consider options to increase shareholder value
** Analysts at National Bank of Canada Financial Markets “applauds” this move in a note titled “glimmer of hope?”, says co’s emphasis on strategic review that seems to prioritise consistency and cash flows
** Brokerage adds “a privatisation should also be strongly considered”; rating stock “outperform” with PT of C$47 which an upside of ~98% to stock’s Monday close
** Out of 12 brokerages tracking the stock, 7 rate it “buy” or higher, 5 “hold”; median PT C$42 - Refinitiv Eikon data
** SNC shares have fallen 48.4% YTD up to Monday’s close (Reporting by Shanti S Nair in Bengaluru)
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