Core Insights - Acuren Corporation (NYSE:TIC) experienced a significant stock price increase of 22.94% on Thursday, closing at $13.45, as investors engaged in bargain-hunting after four consecutive days of decline [1] - Jefferies initiated coverage on Acuren with a bullish rating, setting a price target of $16, indicating an 18.9% upside potential from its latest closing price [2] - The positive outlook from Jefferies is based on expectations that Acuren will expand its EBITDA margins by approximately 200 basis points to 18% over the next two years, driven by cost synergies from its acquisition of NV5, along with operational improvements [3] - Following the merger with NV5 Global, Acuren has become a leading provider of TICC and engineering services in North America, focusing on critical industrial assets and public infrastructure [4] - Jefferies also anticipates that Acuren can achieve over a 20% increase in EBITDA margins in the long term through enhanced pricing strategies and benefits from industry consolidation [4]
Acuren Corp. (TIC) Soars 22.9% as Investors Bargain-Hunt