The Globe and Mail reports in its Friday, July 10, edition that National Bank Financial analyst Cameron Doerksen has reaffirmed his "outperform" recommendation for Exchange Income. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $137. Mr. Doerksen says in a note: "As the largest aviation provider into Canada's North and other remote areas, Exchange Income is ideally positioned to see growth from Canada's investment in defence and other infrastructure in the North. In late June, the Canadian government initiated the process to list two major projects in the North (Mackenzie Valley Highway and the Grays Bay Road and Port) as projects of national interest. If these construction projects move forward, they would drive increased aviation activity in the North. ... Although Exchange Income's PAL Aerospace subsidiary was unsuccessful in its bid to win a large aerial surveillance contract in Australia, we still see the potential for new surveillance opportunities in Canada and globally." Mr. Doerksen says he also expects Exchange Income's manufacturing segment to "see more tailwinds." He calls Exchange Income's valuation "reasonable."