The Globe and Mail reports in its Tuesday, Aug. 15, edition that RBC Capital Markets analyst Geoffrey Kwan has reiterated his "sector perform" recommendation for Fiera Capital. The Globe's David Leeder writes in the Eye On Equities column that Mr. Kwan cut his share target back by a loonie to $7. Analysts on average target the shares at $7.59. Mr. Kwan says in a note: "While Q2/23 EPS was in line with our forecast and consensus and had included the positive surprise of a significant improvement Q/Q in Adjusted EBITDA margin, the main takeaway for us is there are indications that net redemptions at PineStone sub-advised funds are likely to persist, which incrementally reduces visibility regarding when Fiera can return to sustained positive quarterly net sales (net sales have been negative for 9 consecutive quarters). Fiera's share price has declined significantly this year, which we think in part reflects the disappointing net sales performance, but we don't view the risk-reward profile as attractive enough yet." The Globe reported on July 26 that CIBC World Markets analyst Nik Priebe had reaffirmed his "neutral" recommendation for Fiera Capital. Its shares could then be had for $6.57.