The Globe and Mail reports in its Tuesday, July 29, edition that RBC Dominion Securities analyst Ryland Conrad has commenced coverage of Winnipeg-based retailer North West Company, giving it an "outperform" ranking due to its strong position in resilient markets that have high barriers to entry. The Globe's David Leeder writes in the Eye On Equities column that Mr. Conrad set a share target of $60. Analysts on average target the shares at $60.33. Mr. Conrad says in a note: "The majority of North West Company stores are in remote markets across Northern Canada and Alaska, characterized by: (I) more resilient demand relative to urban centres; (ii) high barriers to entry underpinned by logistical complexities, elevated construction costs and entrenched relationships with local communities; and (iii) limited competition. These structural dynamics contribute to the company's consistent track record of organic growth and above-average returns on capital despite operating a conservative balance sheet. Unique exposure to $80-billion in first nations settlements. Over the next decade, $80-billion in settlement funding including $25-billion in direct compensation is expected to flow into first nations communities across Canada."