The Globe and Mail reports in its Wednesday, June 19, edition that M Partners analyst Tom Varesh says Enterprise Group's (68 cents) $12-million acquisition of Calgary Tunnelling & Horizontal Augering will be transformative for the construction services company, as it has the potential to increase its revenue and pretax earnings by about 50 per cent. The Globe's Darcy Keith writes in the Eye On Equities column that Calgary Tunnelling is a North American leader in the highly specialized tunnelling field, where competition is limited. Mr. Varesh raised his price target to $2.05 from $1.30 and reiterated a "buy" rating. The average target is $1.52.
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