The Globe and Mail reports in its Wednesday edition that CIBC World Markets analyst Nik Priebe has reaffirmed his "neutral" recommendation for CI Financial. The Globe's David Leeder writes in the Eye On Equities column that Mr. Priebe's share target soared $4.50 to $18. Analysts on average target the shares at $19.50. Mr. Priebe says in a note: "When CI reports Q2 results, we will be looking for an update on capital allocation priorities. According to SEDI filings, the company resumed share repurchases at an accelerated rate in May (i.e., following the announcement of the investment in the U.S. wealth platform). This follows two consecutive quarters of no buybacks as the company had elected to prioritize the allocation of excess free cash flow toward debt repayment. ... CI has been outperforming the industry on a long-term fund flows basis lately. Our investment performance tracker has detected a modest sequential improvement in both short- and long-term investment performance in Q2, which should help the company sustain its Morningstar ratings and fund flows performance." The Globe reported on May 16 that Mr. Priebe had downgraded his recommendation for CI Financial to "neutral." It was then worth $12.59.