The Globe and Mail reports in its Tuesday, July 18, edition that Canaccord Genuity analyst Aravinda Galappatthige has reaffirmed his "hold" recommendation for Cogeco Communications. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Galappatthige boosted his share target by $4 to $70. Analysts on average target the shares at $79.97. Mr. Galappatthige says Cogeco's fiscal third quarter results were a "net positive" thanks to the robust performance in its Canadian business. However, he notes that its U.S. business remains challenged. Mr. Galappatthige says in a note: "The Internet net adds rebound in Canada was a highlight of this quarter with subs coming in significantly ahead of expectations. Given the ongoing FTTH [fibre to the home] expansion on both sides of the border, we believe the strength seen in Canadian subs over the last couple of quarters could be viewed as a positive signal. With that said, U.S. operations continue to underperform largely impacted by incremental losses in Ohio and an uptick in price competition from FWA [Fixed Wireless Access]. ... We believe the sustainability around its Canadian operations and recovery in their US business could be key catalysts to watch out for."