The Globe and Mail reports in its Tuesday, Aug. 29, edition that National Bank Financial analyst Cameron Doerksen has, upon resuming coverage of NFI Group, reaffirmed his "outperform" recommendation and $15 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $13.42. With the release of in-line second quarter results on Friday, NFI said it is in the process of completing the elements of its previously announced refinancing plan to raise total gross proceeds of about $444-million. That included an additional $38-million equity private placement to a large global asset manager at a price of $10.10 per share, which is higher than an earlier deal with Coliseum Capital for $8.25 per share. Mr. Doerksen says in a note: "The refinancings and new credit agreements should provide NFI sufficient cash and financial flexibility ($137-million in expected liquidity with key covenants waived through Q2/24) to execute on the production ramp that has begun. Based on our updated modeling, we see NFI's net-debt/EBITDA (excluding convertible debentures) at 2.9 times at the end of 2024, well within the updated covenant of 3.5 times."