The Globe and Mail reports in its Wednesday, April 17, edition that Scotia Capital analyst Michael Doumet is sticking with his "sector outperform" recommendation for Finning International. The Globe's David Leeder writes that Mr. Doumet boosted his share target by a loonie to $53. Analysts on average target the shares at $47.11. Mr. Doumet says in a note: "To us, Finning's trough multiple contradicts the backdrop: PMIs rebounded to more than 50, copper prices have risen 20 per cent in the last six months, WTI prices are firm, and the economic outlook remains favourable. That is not to say the macro is 'perfect' -- economic growth slowed in the U.K. and Ireland, and construction in Western Canada may face a two-quarter lull. Regardless, we believe Finning is in a unique situation: it can (i) prove out its EPS resiliency despite customer destocking/softening demand in 1H24 and (ii) re-accelerate EPS growth in the 2H24 (and into 2025) with improving product support momentum and chunky debt paydown/buybacks. In the last 20 years, Finning traded at its approximately 10 times P/E trough multiple on four occasions: in 2008, 2015, 2020, and in October, 2023. We [believe] the recent trough valuation was unjustified."