The Globe and Mail reports in its Thursday edition that Scotia Capital analyst Jonathan Goldman has resumed coverage on Boyd Group with a "sector perform" recommendation and a $264 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $276.54. Mr. Goldman believes Boyd Group's recent cost-cutting and sales growth efforts will help it achieve its goal of doubling earnings before interest, taxes, depreciation and amortization within five years, regardless of industry recovery. Mr. Goldman says in a note: "That alone is sufficient to drive double-digit share price returns absent a rerate. But we see optimism for a sustained rebound in same-store sales growth (SSSG) as lower fleet age and higher used prices raise the threshold for total loss, which should see a return of higher ticket repairs to Boyd's shops. Insurance premium inflation continued to moderate in Q4 and our analysis of 50-plus years of data indicates 'repair deferral' cycles rarely last longer than a year, supporting the view that maintenance, including body work, is ultimately non-discretionary. Sustained SSSG and margin recovery should alleviate structural concerns and support a rerate."