The Globe and Mail reports in its Friday, Jan. 30, edition that Raymond James analyst Steve Hansen raised his share target on Firan Technology Group to $17.50 from $15 while continuing to rate the stock "outperform." The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Hansen attributed the target hike to sustained momentum across the aerospace and defence sector, Firan's ability to leverage these tailwinds and a rolling forward of his valuations. Firan is a global corporation providing solutions for aerospace and defence electronic products and sub-systems. Mr. Hansen says in a note, "While the stock has already enjoyed a strong move in recent months (trailing six month: 27.3 per cent vs. TSX Composite: 19.9 per cent), we still see solid value in the shares given: 1) key indicators that reaffirm a multi-year growth cycle ahead; and 2) Firan's discounted multiple relative to its closest peers." The Globe reported on April 11 and June 10 that Mr. Hansen had reaffirmed his "outperform" recommendation for Firan Technology when it could be had for $7.46 and $11.45. The Globe reported on
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