The Globe and Mail reports in its Thursday, May 15, edition that CIBC World Markets analyst Nik Priebe has downgraded Power Corp. of Canada to "neutral" from "outperformer." The Globe's David Leeder writes in the Eye On Equities that Mr. Priebe is sticking with his $55 share target. Analysts on average target the shares at $55.86. Mr. Priebe says in a note: "Power Corporation reported a straightforward quarter, devoid of any surprises or material updates. However, we are downgrading the stock to 'neutral' (from 'outperformer'). The downgrade is not related in any way to the quarter itself. Since upgrading the stock in early February, the net-asset-value discount has narrowed from the high end of the historical trading range to the low end. Furthermore, with trade war fears easing and markets veering back into risk-on mode, we believe there could be a continued rotation out of defensive names like POW into more cyclical exposures. Excess liquidity is also more modest and may rely on monetization events to sustain the current level of buybacks in future quarters." The Globe reported on Feb. 7 that Mr. Priebe had upgraded Power Corp. of Canada to "outperformer" from "neutral." The shares could then be had for $47.85.