The Globe and Mail reports in its Thursday edition that National Bank's Matt Kornack began coverage on GO REIT with an "outperform" call. The Globe's David Leeder writes that Mr. Kornack targets the units at $15 (all figures U.S.). Analysts on average target the units at $17.50. Mr. Kornack says in a note: "GO's portfolio is unique in a number of respects including its primarily luxury high-rise offering on the east side of Manhattan in buildings with an average age of just 15 years (with three of the five buildings built within the last 10 years). The quality of the offering is evident in high in-place average rents with the portfolio commanding over $7 per sq. ft. or $6,500 per month. Near-term opportunity to push rents to market, realize on renovation and suite conversion projects: Management has identified a near-term opportunity to capture 10-per-cent upside in rents in the next twelve months with an assumption of 4-per-cent growth thereafter as supply/demand dynamics in the NYC rental market justify above inflationary increases. In the medium-term the REIT can further bolster this growth through programs aimed at converting one-bed and two-bed suites by adding a partition wall to create an additional bedroom."