The Globe and Mail reports in its Thursday edition that RBC Capital's Global Financials Research Group has named Element Fleet Management one of its "Best Stock Ideas." The Globe's David Leeder writes that RBC analyst Geoffrey Kwan rates Element Fleet Management "outperform," with a share target of $30. Mr. Kwan says in a note: "Significant Growth Opportunities: (1) Element Fleet continues to win new clients and cross-sell existing clients additional vehicle fleet services; (2) substantial self-managed market opportunity that Element Fleet estimates is $8-billion per year vs. Element's current annual revenues of $1.3-billion. Element Fleet's value proposition is it believes it can save companies/governments 20 per cent vs. what they spend to manage their own fleets; and (3) we think Element Fleet can deliver strong growth even during a recession as the OEM production shortage of past 2-plus years left their clients with minimal vehicle replacements, causing a significant increase in fleet ownership costs, so clients are likely to have strong new vehicle demand even in a recession." The Globe reported on Oct. 25 that Mr. Kwan had reaffirmed his "outperform" recommendation and $30 share target when Fleet shares were worth $18.86.