The Globe and Mail reports in its Thursday, Aug. 14, edition that Rona's ($12.56) fortunes have improved slightly, but growth rates are not yet sustainable, says CIBC World Markets analyst Mark Petrie. The Globe's Jody White and Tim Shufelt write in the Eye On Equities column that Mr. Petrie says: "Rona is making progress. ... Cost-cutting has been spot on. With the west red hot, Reno-Depot's momentum in QC and store closures in ON [same store sales] should turn positive. These improvements, however, are on top of a brutal last few years, and do not represent sustainable growth rates." Mr. Petrie adds that Rona's valuation gap to United States peers is relatively narrow, and with less favourable fundamentals and macro trends. Mr. Petrie is maintaining his "sector underperformer" rating and $11 target price. The analyst consensus price target, according to Thomson Reuters, is $12.06. BMO Nesbitt Burns analyst Wayne Hood maintained his "market perform" rating on Rona in the Eye column on Oct. 16, 2013. Mr. Hood maintained his $11 target. The shares could then be had for $12. Canaccord analyst Derek Dley maintained his "hold" rating on Rona in the Eye column on Nov. 14, 2013. The shares were then worth $12.09.