The Globe and Mail reports in its Thursday, Dec. 11, edition that RBC Dominion Securities analyst Bart Dziarski began coverage on AGF Management with an "outperform" recommendation. The Globe's David Leeder writes that Mr. Dziarski targets the shares at $18. Analysts on average target the shares at $16.44. Mr. Dziarski thinks the current valuation for AGF "does not reflect the company's strong investment performance track record driving retail net flow outperformance, capital deployment optionality and potential inclusion in the Dividend Aristocrat Index." Mr. Dziarski says in a note: "AGF has started to pivot toward building a private markets business, which we have a neutral view on overall driven by lack of scale. AGF trades at a discount P/E multiple vs. peers and its historical average and we believe 8.5 times P/E is justified, which is in-line with AGF's historical average and a smaller discount to peers. ... Net of dividends paid, we estimate AGF generates $100-million of FCF providing ample flexibility toward deploying into NCIB (which the company is active on) or M&A (AGF deployed $40-million in 2024). ... Strong investment performance [is] driving positive net retail sales which we expect to continue."