This “Made in Canada” protection tech inventory is a purchase, analyst says

Ventum Capital Markets analyst Rob Goff raised his goal on Calian Group (Calian Group Inventory Quote, Chart, Information, Analysts, Financials TSX:CGY) to C$84.00 from C$72.00 on February 12, sustaining his “Purchase” score following what he described as a return to “beat and lift” kind.

Ottawa-based Calian Group offers techniques engineering and enterprise and expertise providers throughout Canada, america and Europe.

Calian reported Q1/F26 income of C$208.0-million and Adjusted EBITDA of C$22.8-million, with diluted EPS of C$1.03, forward of Goff’s C$201.0-million, C$19.8-million and C$0.93 forecasts and consensus at C$204.2-million, C$19.5-million and C$0.91. Income rose 12.4% year-over-year, evenly cut up between natural and acquisitive progress, whereas Adjusted EBITDA elevated 28.1%, with margin increasing to 11.0% from 9.6% a 12 months earlier.

Administration cited 6% natural progress within the quarter and highlighted a strengthening protection backdrop, with new contract wins in Europe and the U.Ok. supporting backlog progress. Calian added C$171-million in new contract signings within the quarter, following C$122-million in This autumn, bringing backlog to C$1.4-billion.

“We imagine our forecasts and the anticipated consensus expectations go away upside because the 12 months progresses,” Goff stated in his Feb. 12 report, pointing to a powerful acquisition pipeline and administration’s goal of returning to eight to 10% annual income progress.

Goff now forecasts fiscal 2026 income of C$856.9-million and Adjusted EBITDA of C$90.9-million, above consensus at C$849.6-million and C$86.9-million. He expects margins to broaden by the 12 months, modelling a ten.6% EBITDA margin in F2026, enhancing to 11.2% in F2027. For fiscal 2027, he initiatives income of C$942.6-million and Adjusted EBITDA of C$105.1-million.

Goff stated his C$84.00 goal displays 8.4x and seven.6x EV/EBITDA on his 2027 and 2028 estimates, inside Calian’s five-year historic common.

He believes the corporate is well-positioned to profit from elevated protection spending and potential “Made-in-Canada” industrial coverage initiatives, with extra manufacturing capability and nationwide capabilities supporting additional upside.

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Cantech Letter founder and editor Nick Waddell has lived in 5 Canadian provinces and is pleased with his nation’s usually neglected contributions to the world of science and expertise. Waddell takes a daily shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications reminiscent of Canadian Enterprise and Enterprise Insider.