AtkinsRéalis Leads TD Cowen’s Industrial Products Picks

TD Cowen has identified AtkinsRéalis Group as the top opportunity in the industrial products sector, highlighting the company's strong position in nuclear energy and engineering services. AtkinsRéalis stands out due to its substantial exposure to nuclear power development and its engineering services capabilities. TD Cowen's confidence in AtkinsRéalis is driven by the company's ability to capitalize on long-term infrastructure and energy trends, particularly in nuclear new builds.

The firm estimates that Ontario's large-scale new builds could generate around $38 billion in revenue for AtkinsRéalis, which is currently valued at just $4.2 billion in its Nuclear backlog. This underappreciation is partly attributed to perceived first-of-a-kind risks associated with AtkinsRéalis's CANDU MONARK nuclear reactor technology.

The investment firm's outlook is bolstered by the company's expertise in the nuclear field and its substantial growth potential in new build projects. Recent financial results support this positive view, with AtkinsRéalis announcing a second-quarter 2026 performance that exceeded analyst expectations, posting adjusted earnings of $0.97 per share and revenue of $2.99 billion.