The Globe and Mail reports in its Friday, Nov. 10, edition that Raymond James analyst Michael Glen has downgraded Linamar to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Glen slashed his share target by $20 to $70. Analysts on average target the shares at $86.67. Mr. Glen says in a note: "Linamar reported 3Q results that we view as mixed overall. Similar to 1H23 results, industrial segment (SkyJack/MacDon) carried the quarter in a meaningful way. Focusing on the mobility segment, reported EBIT margins of 4.5 per cent were below our 5.3-per-cent forecast, with the primary culprit identified as foreign exchange. We would also note that Linamar is launching $700-million to $800-million of new mobility business in 2023, which is expected to increase to $800-million to $900-million in 2024. Such launches can overhang margins, especially in the early stages of the ramp. Additionally, Linamar is integrating multiple acquisitions (GF, Dura-Shiloh, Mobex), while also completing the construction of a large capital project in Welland, Ontario (Giga Casting). With all of this activity, we believe it is prudent to trim our mobility margin expectations in 2024."