The Globe and Mail reports in its Thursday, Nov. 9, edition that Canaccord Genuity analyst Robert Young is keeping his "buy" recommendation for Pollard Banknote intact. The Globe's David Leeder writes that Mr. Young gave his share target a $4 boost to $37. Analysts on average target the shares at $34.50. Mr. Young says in a note: "Pollard gross margins began to recover (up 120 basis points year-over-year) as expected in Q3 on the back of contract repricing going as planned, strong iLottery and generally strong trends across all parts of the business. Looking forward, demand remains strong across the lottery, iLottery and charitable gaming segments. Despite a modest top-line miss in Q3, strong gross margins drove EBITDA 8 per cent above consensus expectations. We expect gross margins to continue their gradual expansion as repriced contracts combined with stabilized raw material prices and reduced freight cost manifest in the results. Despite strong retail demand, Pollard is taking a disciplined approach to incremental work, selecting only higher-margin projects to promote margins expansion. iLottery remains a notable outperformer, with NPi & Michigan revenues up 42 per cent year-over-year to record levels."