The Globe and Mail reports in its Tuesday, Oct. 28, edition that Canaccord Genuity analyst Derek Dley's bearish outlook on Rona ($13.44) has increased. The Globe's Tim Shufelt and Darcy Keith write in the Eye On Equities column that Mr. Dley says the shares have become overvalued since the company exceeded earnings expectations in mid-August. Mr. Dley says: "The fundamentals do not support the current valuation. ... We continue to be cautious on the home-renovation spending market in Canada." Mr. Dley downgraded Rona stock to "sell" from "hold" and maintained a target price of $12. The consensus target, according to Thomson Reuters, is $13.13. Mr. Dley maintained his "hold" rating on Rona in the Eye column on Nov. 14, 2013. In the item, Mr. Dley lifted his price target to $11.50 from $10.75. The shares could then be had for $12.09. The Globe's Sophie Cousineau wrote a positive piece on Rona boss Robert Sawyer. Rona shares could then be had for $13.02. CIBC World Markets analyst Mark Petrie maintained a "sector underperformer" rating on Rona in the Eye column on Aug. 14, 2014. Mr. Petrie also maintained an underwater price target of $12. The shares could then be had for $12.56.