The Globe and Mail reports in its Thursday, Nov. 16, edition that Desjardins Securities analyst Doug Young has upgraded Power Corp. of Canada to "buy" from "hold." The Globe's David Leeder writes in the Eye On Equities column that Mr. Young also bumped his share target ahead by a loonie to $39. Analysts on average target the shares at $39.86. Mr. Young sees "a wider-than-normal discount to net asset value (near peak levels)." Mr. Young calls Power Corp.'s valuation "compelling." On Tuesday, Power Corp. released quarterly results, which included adjusted earnings per share of $1.52 that topped both Mr. Young's 93-cent estimate and the consensus projection on the Street of $1.06. He attributed that beat largely to a non-cash gain at Belgium-based Groupe Bruxelles Lambert (GBL). Mr. Young says in a note: "Also, relative to our estimate, better-than-expected results at its investment platform and its other and standalone investments contributed 10 cents. Great-West Lifeco (GWO) accounted for six cents of the beat relative to our estimate, but we knew this would be the case post its 3Q23 results release last week. IGM Financial was in line. Other than GWO's and IGM's contribution, the rest is difficult to model."