The Globe and Mail reports in its Saturday, Nov. 15, edition that National Bank analyst Maxim Sytchev has reiterated his "outperform" recommendation for AutoCanada. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sytchev gave his share target a $5 trim to $31. Analysts on average target the shares at $34.04. Mr. Sytchev says in a note: "EBITDA was in line, but the absolute level of revenue decline is concerning; over the years AutoCanada went through a number of strategic realignments and there was always a temporary hint of things 'working' only for investors to be disappointed 12 to 24 months later. We sincerely hope this is not a repeat as the cost-out exercise appears to have been more deliberate. Cash infusion from U.S. dealership sales also moved to the right; with concerns down south around subprime and the auto space in general now, we would have preferred an earlier closing. While there were questions on the call regarding M&A as a function of leverage, we believe a more realistic trigger should be operational resilience amid revenue fluctuations to make sure the platform can absorb any incremental growth; net-net, this was a negative print."