The Globe and Mail reports in its Wednesday edition that Stifel analyst Ian Gillies has upgraded Doman Building Materials Group to "buy" from "hold." The Globe's David Leeder writes that Mr. Gillies boosted his share target to $9.75 from $7.75. Analysts on average target the shares at $8.75. Mr. Gillies says in a note: "Recent housing market data has demonstrated the resiliency of the housing markets as the decline is not as large as the market previously expected. Fannie Mae is now calling for housing starts in 2023E of 1.4 million, down 9.3 per cent year-over-year. For 2024, Fannie Mae is expecting housing starts to be 1.3 million (down 7.4 per cent year-over-year). Both of the 2023 and 2024 forecasts are much improved from the December 2022 outlook of 1.1 million and 1.2 million. ... Doman's margin profile has had a step change in 2023 which is expected to carry on into future periods. This has meaningfully increased the company's EBITDA generation potential. In conjunction, the balance sheet is much healthier giving the company more optionality for M&A. Lastly, the company's ROE and ROCE appear to be structurally improved due to acquisition of Hixson in 2021 and improved working capital management."