The Globe and Mail reports in its Thursday, Nov. 8, edition that though its third quarter results fell below BMO Nesbitt Burns analyst Jonathan Lamers's expectations, due largely to start-up problems at its new Entwistle facility, he upgraded Pinnacle Renewable Holdings ($15.22) to "outperform" from "market perform" with an $18 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $18.56. Mr. Lamers says, "Pinnacle offers substantial earnings growth, remains meaningfully discounted to industry peer Enviva, and there have been a number of positive developments to-date providing near-term opportunities that we believe are not reflected in the stock." The Globe reported on Feb. 27 that BMO Nesbitt Burns Jonathan Lamers had begun coverage on Pinnacle with a "market perform" rating and $15 share target. He said the stock was fairly valued. Also in the item, CIBC World Markets analyst Mark Jarvi gave it the same share target, but with an "outperformer" rating. Mr. Jarvi said, "In our view, Pinnacle is a unique investment opportunity providing a strong total return value proposition." The shares were then worth $13.36.