The Globe and Mail reports in its Thursday, May 18, edition that Raymond James analyst Stephen Boland has downgraded ECN Capital "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Boland knocked his share target back by a loonie to $3. Analysts on average target the shares at $3.54. Mr. Boland says in a note: "While recent quarters have been more challenged -- reflecting tougher industry conditions -- the strategic review remains the overarching theme at play. That said, the slowdown in growth recently has been material. While the strategic review could result in upside from current levels, we expect the stock to be negatively impacted should no solution arise. Furthermore, we expect management could reduce guidance in the near future which could put further pressure on the stock. For these reasons, we are downgrading ECN Capital. ... Management continues to evaluate further tuck-in opportunities across its manufactured housing, Marine/RV and inventory financing businesses. In another notable shift, ECN has signed an agreement to sell up to $300-million in floor-plan assets to an institutional investor partner."