The Globe and Mail reports in its Wednesday, May 14, edition that Scotia Capital analyst Phil Hardie has reiterated his "sector outperform" recommendation for Guardian Capital Group. The Globe's David Leeder writes in the Eye On Equities that Mr. Hardie trimmed his share target by a loonie to $53. Analysts on average target the shares at $52. Mr. Hardie says in a note: "With Guardian stock continuing to trade below the estimated value of its corporate portfolio, and the signalling that as it invests in its business, near-term margins are likely to remain well below their potential, we think investors have set the bar relatively low in terms of expectations for operating earnings. As management executes its strategic plan, the team's goal is to double the EBITDA it generates from its asset management operations by the end of 2028. We believe this significant boost in earnings will help better surface the value of its asset management operations and structurally reduce its NAV discount. Further investment will be required and operating earnings are likely to follow a 'J' curve trajectory." The Globe reported on April 25 that Mr. Hardie rated Guardian "sector outperform." It was then worth $41.37.