The Globe and Mail reports in its Thursday, May 15, edition that RBC Dominion Securities analyst James McGarragle has reaffirmed his "outperform" recommendation for Exchange Income. The Globe's David Leeder writes in the Eye On Equities column that Mr. McGarragle gave his share target a $2 boost to $66. Analysts on average target the shares at $70.27. Mr. McGarragle thinks Exchange Income's "diversified operating model was on full display in Q1, navigating both tariff and macro uncertainty successfully" and now sees the Winnipeg-based company "well positioned to capture increased government spending." Mr. McGarragle says in a note: "A key takeaway from the call was Exchange Income's strong position to capitalize on rising defence spending and the renewed emphasis on energy infrastructure in Canada. We anticipate that both the scheduled and ISR [intelligence, surveillance and reconnaissance] segments will benefit from heightened investment in northern regions, while the matting business is well-positioned to seize opportunities from potential new pipeline projects over the medium to long term. ... Exchange reported solid Q1 results and reiterated 2025 guidance. Key for us was solid results at Spartan Mat."