The Globe and Mail reports in its Thursday, Aug. 16, edition that Desjardins analyst Gary Ho is anticipating a turnaround in Mosaic Capital ($5.34) in the traditionally strong third quarter after weaker-than-anticipated results. The Globe's David Leeder writes in the Eye On Equities column that Mr. Ho continues to rate the shares "hold." Mr. Ho, however, trimmed his share target by 25 cents to $5.75. Analysts on average target the shares at $6.08. Mr. Ho says in a note: "While M has a diversified portfolio and we like the company longer-term, we need to see an earnings recovery to get more constructive. Our investment thesis is based on the following: (1) the challenges at some of its companies may take a few quarters to iron out; (2) the payout ratio remains elevated; and (3) it will need to look for financing alternatives to fund growth opportunities." Elsewhere, Canaccord analyst Raveel Afzaal dropped his share target to $5.50 from $6 with a "hold" rating. Mr. Afzaal says in a note: "Management ... noted it expects to see a sharp rebound in its performance next quarter. ... We maintain our 'hold' recommendation as we await better visibility on the magnitude and sustainability of the anticipated improvement."