The Globe and Mail reports in its Friday, May 10, edition that CIBC World Markets analyst Paul Holden, citing improving earnings per share and a low valuation, upgraded iA Financial to "outperformer" from "neutral," with an unchanged share target of $100. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $100.63. Mr. Holden says in a note: "iA Financial has lagged the group year to date and is trading at the lowest valuation multiples among Canadian peers. We expect a better year for EPS growth in 2024 premised on improved sales, cost discipline and ongoing share buybacks. The stock is trading at an 8.5 times P/E (NTM [next 12-month] consensus) vs. the group average of 9.5 times (10-per-cent discount)." The Globe reported on April 27, 2022, that Mr. Holden had lowered his recommendation for iA Financial to "neutral" from "outperformer." The shares could then be had for $68.38. The Globe reported on Oct. 27, 2022, that Mr. Holden was sticking with his "neutral" call when the shares could be had for $75.67. The Globe reported on Feb. 17, 2023, that Mr. Holden had upgraded iA Financial back to "outperformer." The shares were then going for $89.34.