The Globe and Mail reports in its Friday edition that RBC's Walter Spracklin continues to rate Mullen Group "outperform." The Globe's David Leeder writes that Mr. Spracklin bumped his share target ahead by $2 to $17. Analysts on average target the shares at $17.22. Mr. Spracklin continues to see Mullen Group as a "compelling investment opportunity" following Wednesday's release of third quarter results that he saw as "solid, especially impressive given the weak industrial and macro updates we got during Q3." Mr. Spracklin says in a note: "Management indicated on the conference call that achieving the $350-million EBITDA target for 2025 is unlikely, primarily due to delays in closing the Cole Group acquisition and weaker than expected commodity prices that are negatively affecting the S&I business. Management was vague when asked to provide updated 2025 expectations except to say they do not expect any material changes in the markets and verticals they serve in the near-term. That said, consensus estimates had already reflected the likelihood that results would not meet guidance. Our 2025 EBITDA estimate in fact moves higher to $334-million (from $326-million) mainly due to stronger than expected Q3 results."