The Globe and Mail reports in its Friday, April 12, edition that Desjardins Securities analyst Lorne Kalmar began coverage on Chartwell Retirement Residences REIT with a "buy" recommendation. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kalmar set a unit target of $15. Analysts on average target the units at $14.60. Mr. Kalmar says in a note: "Chartwell is Canada's only publicly traded pure-play retirement homeowner/operator. The trust offers investors exposure to an asset class which is still in recovery post-pandemic and is well-positioned to generate outsized earnings growth over the medium term. Demand is expected to be supported by an aging population, while the threat of new supply is currently at a minimum owing to the rise in construction and financing costs. We also see further upside through the trust's acquisition, capital recycling and development programs. Despite the significant outperformance of its unit price in 2023, we believe its current valuation still represents a compelling entry point to gain access to a high-quality retirement residence portfolio with a 25-per-cent forecast two-year FFOPU CAGR and further upside potential as fundamentals continue to improve."