The Globe and Mail reports in its Wednesday edition that TD Securities analyst Mario Mendonca has reaffirmed his "hold" recommendation for ECN Capital. The Globe's David Leeder writes in the Eye On Equities column that Mr. Mendonca gave his share target a 50-cent boost to $3. Analysts on average target the shares at $2.85. Mr. Mendonca says in a note: "We forecast Q4/23E adjusted EPS from continuing operations of $0. Consensus EPS stands at one cent With the new funding agreements in place for 2024, we view ECN's priorities for quarter and 2024 as twofold: a) advance the corporate simplification plan (reduce expenses by $6-million in first phase) and b) developing the partnership between Triad and Skyline. We continue to rate the stock 'hold,' reflecting: a) higher balance-sheet usage than we contemplated; b) sharply higher and ongoing non-core losses; c) uncertainty regarding further charges on the exit of RV/Marine; d) weak fundamentals (margins/originations); and e) weak treasury/risk management as evidenced by the charges in Q2/23 and again in Q3/23." The Globe reported on Nov. 15 that National Bank's Jaeme Gloyn had lowered his rating for ECN to "sector perform" from "outperform." It was then worth $2.07.