The Globe and Mail reports in its Wednesday, Jan. 10, edition that Canaccord Genuity analyst Robert Young has lowered his recommendation for Enthusiast Gaming Holdings to "hold" from "speculative buy." The Globe's David Leeder writes that Mr. Young now has a 25-cent share target, falling from $1.50. Analysts on average target the shares at $1.71. Mr. Young issued his rating downgraded following Monday's announcement of the resignation of chief executive officer Nick Brien. Mr. Young says in a note: "Given the recent management turnover and unexpected departure of new CEO Nick Brien, we see higher risk and prefer to move to the sidelines until we have more clarity on Q4 and the impact of the management transition. ... Enthusiast Gaming was targeting profitability in Q4 on the back of strong seasonality and recent deal activity, including with the NFL. Given the timing of the CEO departure and a lack of financial guidance in the release, the risk that this milestone will be missed is now higher, in our view. As well, we note that EGLX will typically see weaker Q1 seasonality, which makes it unlikely to be profitable, with our current estimates expecting an 11-per-cent quarter-over-quarter dip on the top line."