Q: WSP has been flat this year while Aecon has had a nice advance.Also, Transforce is recovering.I am thinking of replacing WSP with Aecon or Transforce.Your thoughts please.
Merry Christmas.
Merry Christmas.
5i Research Answer:
WSP has done a big acquisition (comments posted). With its backlog and business, we would consider it much more secure than cyclical TFII and a better engineering company (and much larger) than ARE. We would be reluctant to swap here. ARE will be correlated. TFII could bounce better under the right conditons, but is more economically sensitive if the economy weakens.