The Globe and Mail reports in its Wednesday edition that Stifel analyst Ian Gillies is sticking with his "hold" recommendation for Neo Performance Materials. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gillies gave his share target a 50-cent trim to $9. Analysts on average target the shares at $12.60. Mr. Gillies says in a note: "We are encouraged by Neo's quarterly results, as the company's core businesses continue to recover (Magnequench and C&O). In particular, C&O [chemicals and oxides] performance seems to be normalizing, which we have reflected in our new estimates. However, this is offset by what is likely to be a slower ramp at Estonia whereby full production of 2,000 tonnes will not likely be achieved until late 2026 or 2027. ... Our 'hold' rating remains unchanged as illiquidity of the stock and volatility of the cash flow stream lead us to believe that the implied upside of 34 per cent is not warranted to change our rating." The Globe reported on March 31 that Canaccord was sticking with its "buy" call for Neo Performance. It was then worth $9.28. The Globe reported on May 16 that Mr. Gillies had cut Neo Performance to "hold" from "buy." It was then worth $8.