The Globe and Mail reports in its Friday, Nov. 14, edition that National Bank Financial analyst Jaeme Gloyn has reiterated his "sector perform" recommendation for Fiera Capital. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gloyn gave his share target a 50-cent boost to $7.50. Analysts on average target the shares at $7.40. Mr. Gloyn says in a note: "This is a good quarter that is showing some early signs of success on distribution and efficiency strategies for new CEO Maxime Menard. Both public markets (ex. sub-advised) and private markets reported net inflows. In addition, costs appear well contained as opex drove the EBITDA and margin beats. Our target price increases to $7.50 on upward revised estimates." The Globe reported on Feb. 28 that Mr. Gloyn had upgraded Fiera Capital to "sector perform" from "underperform." The shares could then be had for $6.79. The Globe reported on Aug. 12 that Scotia Capital analyst Phil Hardie continued to rate Fiera Capital "sector perform." The shares were then going for $6.40. The Globe reported on Oct. 30 that Desjardins Securities analyst Gary Ho had reaffirmed his "hold" recommendation for Fiera Capital. It was then worth $6.32.
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