The Globe and Mail reports in its Wednesday, Sept. 20, edition that CIBC World Markets analyst Scott Fletcher rates Calian Group "outperformer" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. Fletcher set a share target of $65. Analysts on average target the shares at $77. Mr. Fletcher says in a note: "Calian's diverse set of offerings provides a variety of opportunities for organic and inorganic growth. Calian is an active acquirer and recent deals have helped the company to expand geographically and outside of its historical focus on government work while also expanding consolidated gross and adjusted EBITDA margins. ... A notable sell-off following disappointing Q3/F23 earnings offers a compelling entry point, particularly with the announced restructuring that should result in a quick rebound in EBITDA margins. With improving margins and an organic growth profile that should improve as supply chain issues are resolved and new growth areas gain traction, we foresee the potential for shares to rerate to a multiple closer to 9.5 times two-year forward EBITDA. Shares also look attractive on free cash flow yield, trading at an 8.8-per-cent yield on our F2024 estimates."