The Globe and Mail reports in its Tuesday, Jan. 23, edition that RBC Dominion Securities analyst Walter Spracklin has raised his recommendation for Mullen Group to "outperform" from "sector perform." The Globe's David Leeder writes that Mr. Spracklin jacked his share target ahead by $2 to $17. Analysts on average target the shares at $17.03. Despite seeing an "uncertain" macro environment Mr. Spracklin issued his upgrade believing that risk is "fully reflected in the company"s valuation." Mr. Spracklin says in a note: "The company is trading on trough earnings on trough valuation as well as operating in an attractive M&A environment. The shares yield mid-teen FCF on our 2024 estimates representing a solid value opportunity with recent M&A in our view being executed at discounted valuations -- creating a solid investment opportunity at current levels. Looking ahead, we see current weakness in the trucking space as a meaningful opportunity for Mullen to acquire struggling carriers and see the company as well positioned for when pricing eventually inflects." The Globe reported on Oct. 11 that TD Securities had upgraded its recommendation for Mullen Group to "buy" from "hold" when it was worth $13.85.