The Globe and Mail reports in its Friday, Aug. 8, edition that National Bank Financial analyst Jaeme Gloyn has reaffirmed Element Fleet Management as a "core holding." The Globe's David Leeder writes in the Eye On Equities column that Mr. Gloyn advanced his share target by a loonie to $47. Analysts on average target the shares at $40.36. Mr. Gloyn says in a note: "The in-line quarter delivered several positives including NIM expansion (even excluding GOS [gains on sales]) and contained opex growth, offset by somewhat disappointing service revenue and VUM [vehicles under management] declines. Nonetheless, our estimates move to $1.26 in 2025 (was $1.23) and $1.46 in 2026 (was $1.43), above management's $1.20 to $1.25 guide. ... Element Fleet is a low-risk, double-digit FCF and dividend grower, with blue-sky share price potential well into the $40s over the next two years, regardless of the market backdrop. ... Element still trades at an FCF yield of 6 per cent on 2026 estimates, roughly 30 per cent above the yield of Canadian Financials and almost double the yield of industrials with similar fundamentals. As Element executes, we expect significant yield compression."