The Globe and Mail reports in its Friday, Dec. 8, edition that Scotia Capital analyst Meny Grauman has reiterated his "sector perform" ranking for Laurentian Bank of Canada. The Globe's David Leeder writes in the Eye On Equities column that Mr. Grauman gave his share target a $10 trim to $28. Analysts on average target the shares at $30.18. Because of weaker-than-anticipated quarterly results Mr. Grauman says he is going to stick to the sidelines of Laurentian Bank "until we get a clearer picture of the way forward, and more confidence in the company's ability to execute." The bank reported that its net income slid 45 per cent to $30.6-million for the quarter ended Oct. 31 due to charges tied to a September system outage. Laurentian is the worst-performing bank stock on the S&P TSX Composite Index. Mr. Grauman says in a note: "A key focus for us in particular is the ability of the bank to drive its adjusted ROE above the mid-to-high single digits. ... Although a major systems' outage in September reduced Q4 adjusted EPS by nine cents, the impact on the bank's balance sheet was less than feared as both loans and deposit volumes held in quite well and certainly did not point to any mass exodus of customers."