The brokerage firms remain skeptical based on weak outlook of management.  They believe earnings growth in the long term is wholly dependent on cost cutting.  Management’s failure of effective capex deployment will remain a hurdle for VE as its growth is expected to remain below its peers.  Moreover, uncertain macroenvironment, lack of earnings visibility, higher exposure to declining construction and engineering activity, and a stretched balance sheet will remain the primary headwinds for VE going forward.