Stifel cuts target for Badger Infrastructure Solutions stock to CAD 117.00

Stifel analyst Ian Gillies cut the price target for Badger Infrastructure Solutions from CAD 118.00 to CAD 117.00 on October 9, 2026, while keeping a Buy rating, Markets Insider reported. The revised target remains above the latest TSX price, but the smaller target signals a more measured valuation view.

Three dated company developments

On July 30, 2026, Badger reported second-quarter revenue of CAD 257.00 million, up 23.00 percent year over year, while adjusted EBITDA increased 25.00 percent to CAD 66.10 million, according to Yahoo Finance. On September 28, 2026, the company set November 5, 2026 for its third-quarter results and November 6, 2026 for the related conference call, according to StockTitan. On October 9, 2026, Stifel lowered its target from CAD 118.00 to CAD 117.00.

What comes before results?

The next cash-return date is October 15, 2026, when Badger is scheduled to pay a quarterly dividend of CAD 0.20 per share, according to Simply Wall St. The payout date gives investors a concrete near-term event before the November results, while the second-quarter figures keep operating growth at the center of the valuation discussion.

Dates and valuation markers

Badger expects to release third-quarter 2026 results after markets close on November 5, 2026, followed by the conference call on November 6, 2026. Its second-quarter adjusted EBITDA margin was 25.70 percent, up 40 basis points from the same period, according to the Yahoo Finance transcript.

TSX price remains below yearly high

Badger Infrastructure Solutions was last at CAD 90.60 on the TSX on October 13, 2026 at 4:00 p.m. ET. The 52-week range was CAD 59.98 to CAD 102.12, placing the last price 11.27 percent below the high, while market capitalization stood at CAD 3.0 billion on the same date.

Market context: Market report S&P/TSX Composite.

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