The Globe and Mail reports in its Friday, Nov. 17, edition that Raymond James analyst Brad Sturges has reaffirmed his "strong buy" recommendation for Tricon Residential. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sturges gave his share target a $1.50 (U.S.) boost to $10.50 (U.S.). Analysts on average target the shares at $9.70 (U.S.). Mr. Sturges says in a note: "We believe after facing lower management fee income year-over-year and greater financing cost headwinds year-over-year in 2023, Tricon could be relatively better positioned next year to generate improved 2024 AFFO [adjusted funds from operations] per share growth year-over-year, that is generally in-line or possibly above its U.S. SFR peers. Further, we believe Tricon's current share price levels provides an attractive value proposition based on a deep discount to its U.S. SFR home portfolio value. ... Over the past few months, Tricon has been focused on optimizing its workforce to fit the company's current needs, which included reducing Tricon's staffing by 5 per cent over the past several months and reallocating its operating staff from servicing vacant homes and acquisitions to servicing occupied homes."