The Globe and Mail reports in its Friday, July 14, edition that Credit Suisse has elevated its recommendation for Laurentian Bank of Canada to "neutral" from "underperform." The Globe's Darcy Keith writes in the Eye On Equities column that Credit Suisse's share target soared $11 to $44. Analysts on average target the shares at $43.54. Credit Suisse analyst Joo Ho Kim says in a note: "We make no changes to our core EPS estimates for F2023E and F2024E, but do switch our valuation methodology given the potential outcome of the review. We now utilize LB's current book value per share and our target P/B multiple of 0.75 times (which implies 30-per-cent premium to [Tuesday's] close and is about 10 per cent higher than the five-year average) to derive our new target price of $44. We believe our target multiple is justifiable in the context of the bank's capital position and ROE. Given our view of the return to target, we now rate the shares 'neutral.' Key risks: 1) changes to the outcome of strategic review; 2) unexpected changes in economic conditions in Canada, particularly Quebec; 3) better-than-expected progression on the ongoing transformation."