The Globe and Mail reports in its Friday, Aug. 15, edition that RBC Capital Markets analyst Jimmy Shan has reiterated his "outperformer" recommendation for H & R REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shan gave his unit target a $2 boost to $13.50. Analysts on average target the units at $13.42. Mr. Shan says in a note: "We believe there is a good probability of a takeout deal here. H & R REIT has previously confirmed that a strategic review is underway to consider various proposals received by its special committee. Since then, we think its actions point to a deal happening, including large asset write down this quarter. Our NAV estimate is $15.50 vs. H & R's revised NAV of $18.86. We raise our target price to $13.50, based on a 15-per-cent discount to forward NAV. We see downside risk to $10 if the board concludes on status quo, a low probability scenario in our view." The Globe reported on July 8 that Scotia Capital analyst Mario Saric rated H & R "sector perform." The units could then be had for $11.99. The Globe reported on July 30 that TD Cowen analyst Sam Damiani continued to rate H & R "buy." It was then worth $11.77.