The Globe and Mail reports in its Friday, Sept. 16, edition that CIBC analyst Paul Holden says Industrial Alliance Insurance and Financial Services is "getting the recognition it deserves." The Globe's David Leeder writes in the Eye On Equities column that though Mr. Holden says the possibility of "further" multiple expansion may be limited based on that attention, he raised his target price for the company, which is based in Quebec, upon assuming coverage of the stock. With a "sector performer" rating, Mr. Holden's target is $51, up from $46. Analysts on average target the shares at $47.90. Mr. Holden says in a note: "IAG is easily the best-performing life insurer over the last year (up 17 per cent). It has posted the best results to start 2016 with core EPS up 14 per cent year over year and presented a well-communicated growth plan at its investor day in June. Both 2016 results and the plan have been effective at reducing interest rate concerns for what has traditionally been viewed as the most rate-sensitive name. As a result, the valuation discount for the stock has significantly narrowed. IAG is trading at 1.2x book value, close to its post-crisis average and the average for its Canadian peers."