The Globe and Mail reports in its Friday, Jan. 5, edition that RBC Dominion Securities analyst Robert Kwan has an unchanged "outperform" recommendation for Element Fleet Management. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kwan boosted his share target by a loonie to $31. Analysts on average target the shares at $25.88. Mr. Kwan says in a note: "A rare stock for all seasons. Simply put, we think Element Fleet is a stock that can perform well in pretty much any scenario in 2024, but bigger picture, we think Element Fleet is a core holding that should be in any portfolio. Why we still have high conviction in our bullish call one year later: (1) there is strong evidence that OEM production is back to prepandemic levels, unlike at the start of 2023, when it was unclear when OEM production would normalize; (2) the return of capital catalyst is finally imminent vs. being something that was 'x' years away; and (3) Element Fleet continues to execute winning new customers and cross-selling existing clients additional fleet services." The Globe reported on Oct. 25 and Dec. 7 that Mr. Kwan had reaffirmed his "outperform" recommendation when Fleet shares were worth $18.86 and $21.93.