The Globe and Mail reports in its Tuesday, Oct. 31, edition that National Bank Financial analyst Jaeme Gloyn has reaffirmed his "sector perform" recommendation for First National Financial. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gloyn knocked his share target back by $4 to $38. Analysts on average target the shares at $41.83. The National Bank stockpicker says in a note: "While the announced acquisition of [Home Capital Group] by Smith Financial inspired confidence through the end of 2022 and into 2023, valuation compression in recent months has shown that market sentiment has shifted more negative. We reaffirm our view that caution and patience remain the appropriate strategy heading into Q3-23 results due to downside risks that could constrain sector valuations and share price performance near term." The Globe reported on Feb. 17 and May 2 that Mr. Gloyn had reaffirmed his "sector perform" call for First National. The shares were then worth $38.17 and $38.95. The Globe reported on Aug. 3 that Scotia Capital rated First National "sector perform" when it could be had for $40.04.