The Globe and Mail reports in its Wednesday, June 14, edition that Hannam & Partners analyst Jonathan Guy, after assuming coverage on Clean Air Metals, slashed his share target by 45 cents to 15 cents. The Globe's David Leeder writes in the Eye On Equities column that Mr. Guy does not have a specific rating for the company. Analysts on average target Clean Air shares at 40 cents. Despite a cut to Clean Air's resource outlook for its Thunder Bay North project in late May, Mr. Guy continues to see it as "a compelling M&A target given its strategic location in an active region as surrounding PGM operations will need to source additional ore to feed their plants." On May 4, Clean Air released an updated indicated and inferred mineral resource estimate, which saw a reduction in resource tonnage. That was followed by a management shakeup that saw Abraham Drost depart as chief executive officer and director. Mr. Guy says in a note: "Clean Air Metals has faced a significant headwind from the restatement of the resource for the Thunder Bay North project in May, with the CEO subsequently stepping down. While the updated resource is smaller, it remains high-grade and in our view the deposit is still attractive."