The Globe and Mail reports in its Friday, March 8, edition that Scotia Capital analyst Mario Saric has reaffirmed his "sector perform" recommendation for Minto Apartment REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Saric jacked his unit target up to $19.25 from $18.75. Analysts on average target the units at $19.95. Mr. Saric says in a note: "Despite the 3-per-cent move [Thursday], Minto's NTM [next 12-month] ROR of 15 per cent exceeds the 11-per-cent peer average, albeit below the 23-per-cent sector average (20-per-cent market-cap weighted). We expect year-over-year FFOPU outperformance again in Q1/24, before stabilizing as interest expense comps become less of a tailwind. Previously, we classified Minto as a top upgrade candidate and we still feel that, but its 26-per-cent move post Q3 results (vs. 15 per cent for peers and 8 per cent for sector) makes this more of a relative than absolute call it was before. That said, we're still good buying Minto in the low-$17 range." The Globe reported on Jan. 11 that Mr. Saric bumped his target for Minto units to $18.75 from $18.50 with a "sector perform" rating. Minto was then worth $16.31.