Financial analysts at Canaccord have raised their price target on the Australian engineering and construction firm BSA (ASX:BSA) to A$1.25 per share, previously it was A$1.25 per share, while maintaining a ‘Buy’ rating.

The price target adjustment comes after BSA’s fourth quarter EBITDA results of A$5.4 million surpassed the firm’s initial estimate of A$4.6 million.

The elevated 4Q EBITDA numbers indicate the ongoing progress at BSA’s standalone Communications & Utility Infrastructure (CUI) business.

According to Canaccord, BSA’s robust earnings momentum stems from a more sustainable business model and the market’s focus on the telecommunications and energy sectors.

So far this year, BSA’s stock has increased by 13.2% upto the last closing.

BSA is an engineering and construction company recognized for successful outcomes in telecommunications and energy sectors.