The Globe and Mail reports in its Wednesday, May 10, edition that Canaccord Genuity analyst Michael Fairbairn has cut his recommendation for Asante Gold to "hold" from "speculative buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Fairbairn is sticking with his $2.20 share target. Analysts on average target the shares at $2.68. Mr. Fairbairn says Asante Gold is in "liquidity limbo" after entering into a confidentiality agreement with Fujairah Holding in connection with its bid to acquire the company. On April 21, Vancouver-based Asante announced it received unsolicited, non-binding and conditional expression of interest from UAE's Fujairah, which owns 11.43 per cent of Asante's stock. It said cash consideration was contemplated at a price of $2.20 per common share, but the company's board determined the offer was "highly conditional and fails to address Asante's near-term financing requirements. ... Ultimately, management has indicated that Fujairah is willing to engage in financing discussions, and we note Fujairah may come back with a higher offer, however, we believe the lack of clarity surrounding Asante's financial position could complicate upcoming negotiations."