The Globe and Mail reports in its Wednesday, Dec. 20, edition that Scotia Capital analyst Michael Doumet has reaffirmed his "sector outperform" recommendation for FirstService. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doumet raised his share target to $165 (U.S.) from $155 (U.S.). Analysts on average target the shares at $167.14 (U.S.). Mr. Doumet issued his share target upgrade in response to FirstService's $413-million (U.S.) acquisition of a controlling interest in Roofing Corp. of America. Mr. Doumet says in a note: "We view the transaction favorably as RCA/roofing (I) provides another avenue for multi-year organic/M&A growth and (iii) is complementary to Restoration. Additionally, given its similarities to the other brands sub-segments (i.e. labour-intensive, leading market position, fragmented industry, etc.), we believe FirstService will be able to execute its share gain strategies to drive strong organic growth at RCA (as it did with Century Fire and Restoration); we also expect follow-on (tuck-in) roofing transactions to be completed at lower/more accretive multiples. We raised our one-year target to reflect the accretion from the transaction."