The Globe and Mail reports in its Tuesday, May 2, edition that National Bank Financial analyst Maxim Sytchev continues to rate Toromont Industries "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Sytchev jacked his share target up by $2 to $126. Analysts on average target the shares at $126.44. Mr. Sytchev says it is "back to regular programming" for Toromont with the removal of an important investor overhang with the announcement of a new chief executive officer. On Friday the company announced that executive vice-president and chief financial officer Michael McMillan will succeed Scott Medhurst as its president and CEO. The news came alongside the release of better-than-expected first quarter results. The National Bank stockpicker says in a note: "We remain bullish on Toromont's end-markets given the demographic tailwinds created by rising immigration to Eastern Canada, generous government infra spending and still elevated commodity prices. ... Toromont is taking advantage of improved equipment availability to continue building out its fleet, especially in rentals, which management sees as a growing market in which Toromont can gain market share going forward."