The Globe and Mail reports in its Friday, July 14, edition that Raymond James analyst Stephen Boland has reaffirmed his "outperform" recommendation for Canadian Western Bank. The Globe's Darcy Keith writes that Mr. Boland continues to target the shares at $30. Analysts on average target the shares at $29.29. Mr. Boland says Laurentian Bank's plans to conduct a strategic review that could include selling itself have several implications for Canadian Western Bank. Mr. Boland sees Laurentian's plans sparking speculation that Canadian Western itself could become a potential takeover target. Mr. Boland notes that Canadian Western shares rose nearly 4 per cent following the Laurentian news on Wednesday. Mr. Boland says in a note: "Like LB, CWB is trading well below book value and even a transaction close to or slightly above book value could be materially accretive for one of the larger Canadian banks. The bigger banks could also unlock significant capital by moving CWB's loan book onto the AIRB model (instead of the standard approach currently used by the bank). In addition, there are obvious funding synergies for any larger buyer as CWB's higher cost funding sources could be replaced with lower-cost retail deposits."