The Globe and Mail reports in its Tuesday, April 2, edition that Canaccord Genuity analyst Matthew Lee has reaffirmed his "buy" recommendation for Hammond Power Solutions. The Globe's David Leeder writes in the Eye On Equities column that Mr. Lee hiked his share target for Hammond Power to $167 from $85. Analysts on average target the shares at $112. Mr. Lee says in a note: "Hammond Power Solutions reported Q4 results last week, with revenue and EBITDA both above our estimates. Initially, we had concerns around declining sequential backlog, but we now believe that order growth has remained positive while improved capacity has driven down lead times. Management noted on the call that quotation activity remains robust, which portends order book strength for the year. Based on the company's current capacity, we expect Hammond to deliver 8-per-cent consolidated volume growth in the year, supplemented by a low-single-digit price increase starting in Q1. We have updated our model, accounting for higher growth and a revised adjusted EBITDA calculation methodology (removing the impact of LTIP valuation fluctuations). On our current numbers, HPS trades at 14 times NTM [next 12-month] EV/EBITDA."