The Globe and Mail reports in its Thursday, Feb. 1, edition that Scotia Capital analyst Kevin Krishnaratne, ahead of earnings season, cut his recommendation for Enthusiast Gaming Holdings to "sector perform" from "sector outperform." The Globe's David Leeder writes that Mr. Krishnaratne slashed his share target by $1 to 50 cents. Analysts on average target the shares at $1.16. Mr. Krishnaratne says in a note: "Despite the significant underperformance of the stock, we believe shares are likely to remain range bound until there is greater clarity and confidence in the company's profit profile. While we model slight adj. EBITDA profits being achieved in Q4 given seasonality, we still see FCF losses that are expected to continue through 1H/24. Meanwhile, the surprise departure of Nick Brien as CEO on Jan. 8 who had just come on board in March, adds more uncertainty to the story. While we appreciate the wealth of knowledge interim CEO Adrian Montgomery and other members of the Enthusiast Gaming team have of the company's unique assets and brand/advertiser relationships, we look forward to a permanent replacement and updated strategic vision before getting more constructive on shares."