The Globe and Mail reports in its Friday, Feb. 9, edition that Raymond James analyst Daryl Swetlishoff has raised his recommendation for Acadian Timber to "outperform" from "market perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Swetlishoff boosted his share target by $1.50 to $18.50. Analysts on average target the shares at $17.50. Mr. Swetlishoff says in a note: "We highlight Acadian has executed on its first carbon credit sale in 4Q23, realizing attractive $24.85 (U.S.)/credit pricing (in line with prior guidance) on a small 1.5k transaction. While clearly not needle-moving, we note 1.9 million carbon credits are expected to be realized and sold through the 10-year lifetime of the project -- with the bulk of transactions expected within the early stages of the initiative. Should all 1.9 million credits transact at this level, we note this translates to a $64.7-million valuation of the project (23 per cent of current market cap)." Mr. Swetlishoff points to the "constructive" long-term outlook for the U.S. housing industry. As well, he sees "additional diversification on tap" following Acadian's announcement of a solar land lease agreement.