• RBC Capital upgraded Stantec Inc. (NYSE:STN) to "Outperform" and raised the price target, reflecting confidence in the company's growth potential.
• Stantec reported a net revenue of $1.7 billion in Q3 2025, an 11.8% increase year-over-year, with an adjusted EBITDA of $323.4 million.
• The company's contract backlog rose to $8.4 billion, indicating a robust pipeline of projects and positive future outlook.

Stantec Inc. (NYSE:STN) is a global design and consulting firm that provides professional services in engineering, architecture, and environmental sciences. The company operates in various sectors, including infrastructure, water, and energy, making it a key player in the industry. Stantec competes with firms like AECOM and Jacobs Engineering, offering a wide range of services to clients worldwide.

On November 17, 2025, RBC Capital upgraded Stantec's stock to "Outperform," with the stock priced at approximately $99.43. This upgrade reflects confidence in the company's performance and potential for growth. RBC Capital also raised the price target from C$153 to C$168, indicating positive expectations for the stock's future value.

Stantec's strong financial results for Q3 2025 support this optimistic outlook. The company reported a net revenue of $1.7 billion, an 11.8% increase from the same period in 2024. This growth is driven by sustained demand for its services and effective project execution. The adjusted EBITDA rose by 17.8% to $323.4 million, with a margin improvement to 19.0%.

The company's contract backlog increased to $8.4 billion, a 14.9% rise year-over-year, highlighting its robust pipeline of projects. Stantec has also raised its full-year adjusted EBITDA margin guidance, reflecting strong performance and positive expectations for the remainder of 2025. This growth is attributed to its diversified business model and strategic execution.

Despite these positive developments, STN's stock price has decreased by 6.75% today, closing at $98.76. The stock experienced a price drop of $7.15, with a trading range between $98.76 and $105.51. The company's market capitalization is approximately $11.27 billion, with a trading volume of 293,110 shares.