The Globe and Mail reports in its Friday, Feb. 6, edition that National Bank analyst Matt Kornack and Giuliano Thornhill are sticking with their "outperform" call and $80 unit target for Boardwalk REIT. The Globe's David Leeder writes that analysts on average target the units at $81.02. Mr. Kornack and Mr. Thornhill say in a note: "Boardwalk REIT just squeaks out a higher total return than CAP REIT, which we also think is worth a look given overly punitive trading. That said, Boardwalk's better-than-expected results to date (largely on cost management) combined with an inflection in rental spreads as sustained population growth satiates new supply and the REIT's Edmonton heavy and more affordable offering outperform (complemented by strong allowable rent increases in its defensive QC market). Valuation remains attractive on a cap rate basis given outsized NOI growth relative to unit price performance, which has also improved leverage metrics." The Globe reported on April 15, July 11 and Dec. 9 that National Bank rated Boardwalk "sector perform." The units could then be had for $61.77, $71.02 and $62.44. The Globe reported on Dec. 12 that TD Cowen rated Boardwalk "buy." The units were then going for $62.40.