The Globe and Mail reports in its Tuesday, Oct. 31, edition that Scotia Capital analyst Phil Hardie has reaffirmed his "sector outperform" recommendation for Fairfax Financial Holdings. The Globe's David Leeder writes in the Eye On Equities column that Mr. Hardie continues to target the shares at $1,500. Analysts on average target the shares at $1,485.09. The Globe says Mr. Hardie continues to recommend investors take a "barbell approach that balances defensive quality with attractive value-oriented opportunities." Mr. Hardie calls Fairfax a "top pick." He believes the company is in a good spot "to navigate the current environment." Mr. Hardie says in a note: "Fairfax has demonstrated resilience through the business cycle and turbulent financial markets, but we view it as a less-defensive play than more traditional publicly listed insurers. At this stage of the market cycle, this likely provides an attractive balance: downside protection thanks to the relative resilience of insurance operations through a potential recession, and upside potential when markets recover. There have been significant changes at Fairfax that we believe investors have yet to fully recognize."