The Globe and Mail reports in its Thursday, March 28, edition that TD Securities analyst Brian Morrison has reaffirmed his "speculative buy" recommendation for Aimia, while reducing his share target by a loonie to $4. Analysts on average target the shares at $4.75. Mr. Morrison says in a note: "The Q4/23 release was disappointing. As management stated on the call, it provides a base from which to build upon going forward. From an operating subsidiary perspective, Bozzetto achieved results in line with expectations, while Cortland was well below management's fall outlook. Furthermore, while we remain positive on the outlook for Clear Media, the turnaround is taking longer then previously forecast. Lastly, we have incorporated the write-down of Trade X to zero following it entering receivership in December. Overall, the Q4/23 release we summarize as negative. We see a path to attractive upside to Aimia's share price, but acknowledge our thesis has been pushed out, largely due to the operational performance at Clear Media/Courtland. Having updated our SOTP to incorporate these items, we are lowering our target price."