The Globe and Mail reports in its Friday, April 21, edition that Raymond James analyst Brenna Phelan downgraded Home Capital Group ($17.71) to "market perform" from "outperform" in reaction to the Toronto-based mortgage lender and three of its current or former executives being accused by the Ontario Securities Commission of making false and misleading statements to the public. The Globe's David Leeder writes in the Eye On Equities column that Ms. Phelan shaved her share target by $11 to $23. Analysts on average target the shares at $28.82. Ms. Phelan says in a note: "Our previously positive outlook on the stock was based on improving underlying business fundamentals, specifically in its non-prime mortgage business, and while recent data points point to improvement, incremental information from the OSC's Statement of Allegations leads us to believe that continued improvement may not be achievable due mainly to an inability to obtain cost-effective funding. We note that the uncertainty around the outcome from these allegations increases forecasting risk." Raymond James analyst Michael Overvelde was bullish on Home Capital in the Eye column on Oct. 31, 2016. The shares could then be had for $26.32.