The Globe and Mail reports in its Friday, March 29, edition that Echelon Capital analyst Mike Stevens commenced coverage of Kraken Robotics with a "buy" recommendation. The Globe's David Leeder writes that Mr. Stevens set a Street-high share target of $1.60. Analysts on average target the shares at $1.43. Mr. Stevens says in a note: "Despite playing in a global sandbox with multibillion-dollar giants, Kraken's leading-edge SAS technology helps it punch well above its weight in setting the industry standard. ... The company's success and swelling scale have been aided by industry tailwinds seamlessly timed with Kraken's investment and product development roadmap toward innovative new subsea offerings. Furthermore, the vast marine robotics and services market is poised for long-run, sustained growth as technology advancements are enabling enriched subsea intelligence of largely unexplored oceans. Additionally, major inherent challenges operating underwater at depth contribute to meaningfully high barriers to entry and consequently, limited competition." The Globe reported on Nov. 29 that Canaccord Genuity analyst Doug Taylor had reaffirmed his "buy" recommendation for Kraken Robotics. It was then worth 63 cents.