The Globe and Mail reports in its Wednesday edition that TD Securities analyst Marcel Mclean has reaffirmed his "buy" recommendation for Laurentian Bank of Canada. The Globe's David Leeder writes in the Eye On Equities column that Mr. McLean slashed his share target by $9 to $36. Analysts on average target the shares at $35.91. The Globe says Mr. Mclean sees an "uncertain path forward" for Laurentian Bank following Monday's unexpected appointment of Eric Provost as its new chief executive officer on the heels of a failed sales process. Mr. Mclean says in a note: "We have increased our discount to the group to 30 per cent from 13 per cent previously to reflect removing the takeout premium we had previously incorporated, as well as to reflect increased uncertainty regarding the future path of the bank. The stock is currently trading at a 36-per-cent discount on TD/consensus estimates and has traded at a 12-per-cent discount on average over the past five years. On a forward P/E basis, the stock is trading at six times/5.9 times TD/consensus 2024 EPS estimates vs. its past five-year average of 9.0 times (range: 5.7-16.3 times). Taking a look at P/B, the stock is trading at less than 0.5 times BV and 0.56 times TBV."