The Globe and Mail reports in its Friday, Aug. 22, edition that Desjardins Securities analyst Chris Li has reaffirmed his "buy" ranking for Dollarama, while maintaining a share target of $205. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $203.71. Mr. Li says in a note: "We believe Dollarama's continuing solid share price performance supports expectations for continued positive results. While this might increase share price volatility near-term depending on results vs investors' expectations, our positive view reflects investors' preference for defence against economic uncertainty, Dollarama's attractive long-term growth from international, solid balance sheet and FCF. ... Near-term, we believe Dollarama's premium valuation is supported by investors' preference for defence and highly visible earnings growth. Over the longer term, increasing confidence in the growth and replicability of its international business model should support valuation." For the second quarter, Mr. Li is projecting diluted earnings per share of $1.15, which is a penny below the Street's expectation but a gain of 13 cents from the same period a year ago.