The Globe and Mail reports in its Wednesday edition that after hosting Crombie REIT for non-deal roadshow meetings last week, Raymond James analyst Brad Sturges raised his unit target to $17.50 from $17, exceeding the $16.31 average, with a "strong buy" recommendation. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sturges says in a note: "We believe Crombie features a number of attractive investment attributes, including: 1) exposure to positive Canadian grocery-anchored retail demand and supply fundamentals; 2) a predictable low-to-mid single digit SP-NOI and AFFO/unit growth profile; 3) an 6-per-cent distribution yield that could grow over time based on the REIT's sub 80-per-cent AFFO payout ratio; 4) strong balance sheet metrics that provides financial flexibility to pursue its various growth initiatives; 5) its Empire sponsorship that can provide a proprietary pipeline of acquisition and development growth opportunities; and 6) its new Montez and Wesgroup development entitlement JV relationships that improves Crombie's financial flexibility and establishes a management fee income stream." The Globe reported on July 18 that Mr. Sturges rated Crombie "strong buy." It was then worth $14.98.