(Bloomberg) — Shares of SNC-Lavalin Group Inc. surged amid optimism Justin Trudeau’s election win may pave the way forward for the embattled engineering firm.

Montreal-based SNC jumped as much as 12%, the most since Sept. 10, after Prime Minister Trudeau’s Liberal Party won a second term to lead Canada with a minority government. The company found itself in the middle of Canada’s biggest political crisis in years after the country’s ethics watchdog found Trudeau pushed for the company avoid a criminal trial over its dealings in Libya.

Distroscale

When asked whether a so-called deferred-prosecution agreement is more likely with the Trudeau Liberals back in power, Finance Minister Bill Morneau said on BNN Bloomberg TV Tuesday: “That’s a continuing discussion that the justice minister will have to have.”

Trudeau has always said his interest in SNC’s fate was based on his desire to avoid job losses.

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Expect Bigger Deficits and Energy Risk Under a Trudeau Minority

Prior to this week, the stock had slumped more than 60% this year after the company issued three profit warnings, wrote down the value of its Middle East energy business and lost a contract in Chile valued at $260 million.

Not everyone is optimistic about SNC prospects. “We see no reason to be long SNC-Lavalin until better visibility is offered,” Frederic Bastien, an analyst at Raymond James said in a report published before the election results came in. The status of its court proceedings, the challenged fixed-price projects it has yet to substantially complete, and the earnings trajectory of its low-risk engineering and nuclear services businesses are all reasons to stay cautious, he added.