The Globe and Mail reports in its Friday edition that RBC analyst Richard Hatch, saying "let the beauty parade commence," believes the current valuation metrics for Dominion Diamond are "attractive." The Globe's David Leeder writes that Mr. Hatch, however, says they require belief in its Jay project at the company's majority-owned Ekati mine in the Northwest Territories, which he questions the viability of. Mr. Hatch continues to rate Dominion Diamond "sector perform." Mr. Hatch raised his share target to $12 (U.S.) from $10 (U.S.). Analysts on average target the shares at $15.36 (U.S.). Mr. Hatch says in a note: "We remain cautious on the Jay project and believe that it is dependent upon better prices and robust demand. As we have previously flagged, we see potential for rough diamond supply increasing in the near-term as new mines ramp up and existing producers either increase production or hold steady (with De Beers and ALROSA seeking to maintain market share). This could, in our view, result in a surplus of supply over demand (particularly in smaller goods) and weigh on Jay prices. Our Ekati NAV [net asset value] reduces to $141-million (U.S.) from $355-million (U.S.) if we hold Jay prices flat."