The Globe and Mail reports in its Saturday edition that Scotia Capital analyst Phil Hardie continues to rate IGM Financial "sector perform." The Globe's David Leeder writes that Mr. Hardie cut his share target back by $2 to $47, 75 cents ahead of the consensus. Mr. Hardie says in a note: "We think the highlights for IGM over the first few months of 2023 have been (1) its continued evolution and (2) the relative resilience of its flows against a challenging backdrop. Its recent evolution included an investment stake that provides it with a gateway into the coveted U.S. high-net-worth market, double the size of its position in a leading Chinese asset manager and the announced sale of IPC that enables it to strengthen its focus on IG Wealth in Canada and redeploy capital into higher growth opportunities. The near-term environment remains challenging, but we believe the combination of its strategic progress and continued relative operational momentum positions IGM for growth once market conditions improve and sow the seeds for long-term expansion and shareholder value creation. Reflecting a tough environment for retail flows, we have made downward revisions to our near-term AUM outlook and earnings forecasts."