The Globe and Mail reports in its Thursday, May 16, edition that CIBC World Markets analyst Mark Petrie upgraded Rona ($10.29) to "sector perform," believing the stock's decline since February has made the risk-to-reward ratio more balanced. The Globe's Darcy Keith and Shirley Won write in the Eye On Equities column that Mr. Petrie says: "Though the immediate outlook remains challenging, there are reasons for optimism. ... Two key management appointments (CEO and CCO) have been made in recent months. Both executives are very strong and bring a new discipline and experience to merchandising and operations." But, noting that its first quarter earnings were significantly below his forecast, he added that there is "no substantial near-term upside" in the stock. Mr. Petrie maintained an $11 price target. The average price target, according to The Globe, is $10.84. Desjardins Securities analyst Keith Howlett rated the shares "hold" in the Eye column on Jan. 23, 2013. He hiked his target to $12 from $11. The shares could then be had for $12.35. Mr. Howlett maintained his "hold" rating and $12 price target in the Eye column on March 28, 2013. The shares were then trading at $11.20.