E operates as an equipment rental and construction services company in Canada serving the utility, energy, and construction industries. E has performed very well over the last year up nearly 2.8x. Revenue growth over the last few years has been very strong and it is cheap at 9.4x forward earnings. The company has one analyst whose forecast predicts modest growth in 2024 and marginal growth with a drawdown in EPS in 2025. It appears E mainly services companies in Alberta right now and this of course caps its upside. Much of the equipemnt that E rents is in the energy/oil & gas space so it will be heavily tied to the performance of that industry which has been performing very well of late. We think growth may be limited as it stands due to the limited servicing region and dependece on energy prices/performance.
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