The Globe and Mail reports in its Friday, Sept. 15, edition that BMO Capital analyst Stephen MacLeod has reiterated his "market perform" recommendation for North West. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacLeod tweaked his target ahead by a loonie to $40. Analysts on average target the shares at $38.75. Mr. MacLeod says in a note: "North West reported a Q2/23 beat and 3-per-cent dividend bump, which drove a rally in the stock (up 15 per cent [on Wednesday]). Sales growth was driven by 4.7-per-cent SSSG and new stores; EBITDA up 14.7 per cent year-over-year. Gross margins are expected to normalize H2/23E compared to prior year inflation-impacted margins. Inflationary and macro pressures introduce near-term earnings uncertainty and cost reduction remains a key priority; management remains optimistic on the medium-term outlook. ... [We] think the stock could appeal to income-oriented investors (4.5-per-cent yield)." The Globe reported on Dec. 9 and April 7 that Mr. MacLeod rated North West "market perform." The shares were then worth $37.48 and $39.82.