The Globe and Mail reports in its Friday, Feb. 23, edition that BMO Capital analyst Michael Markidis continues to rank First Capital REIT "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Markidis boosted his unit target to $18.50 from $17.50. Analysts on average target the units at $18.08. Mr. Markidis says in a note: "We came away from the event with: (1) a greater appreciation for First Capital's culture and enterprise-wide use of technology to drive operational efficiency; and (2) a better understanding of the underlying value of its non-core assets. The strategic roadmap that was laid out emphasizes management's commitment to further improve First Capital's leverage profile and gives us the confidence to extend our forecast out to 2026." The Globe reported on Dec. 22 that RBC Dominion Securities analysts Pammi Bir, Jimmy Shan and Tom Callaghan had reaffirmed their "outperform" recommendation and $17 unit target for First Capital REIT. The units were then going for $15.23. The Globe reported on Feb. 9 National Bank Financial analyst Matt Kornack had reaffirmed his "outperform" recommendation for First Capital REIT. The units were then worth $16.57.