The Globe and Mail reports in its Thursday, May 24, edition that analysts are increasingly bullish on the performance of Great Canadian Gaming after it posted first quarter results that blew past expectations. The Globe's guest columnist Brenda Bouw writes that Great Canadian shares are up more than 35 per cent since it posted first quarter revenue that was up 62 per cent over the same quarter last year to $230.5-million. Analysts expected revenue of about $148-million. Earnings before interest, taxes, depreciation and amortization came in at $67.4-million, analysts said, well ahead of expectations of about $52-million. The latest results were driven by 68 days of revenue from three new operations in the Toronto area. The company bought a 49-per-cent interest in those operations alongside Brookfield Business Partners LP, with Clairvest Group holding the other 2 per cent. Still, the surprising results led some analysts to hike their 12-month price target by as much as 40 per cent. 5i Research analyst Ryan Modesto says he likes the stock and expects it to go higher. Among five analysts who cover the stock, three have a buy recommendation and two a hold, with target prices ranging between $37 and $61.