The Globe and Mail reports in its Tuesday, Feb. 13, edition that National Bank Financial analyst Jaeme Gloyn has reaffirmed his "outperform" recommendation for Trisura Group. The Globe's David Leeder writes in the Eye On Equities column that Mr. Gloyn boosted his share target by a loonie to $65. Analysts on average target the shares at $52.57. On Thursday Trisura Group posted fourth quarter adjusted diluted earnings per share of 54 cents, up 7 per cent year-over-year and 14 cents above Mr. Gloyn's estimate. Mr. Gloyn says in a note: "Trisura delivered a fronting operational ratio of 106 per cent in Q4-23, well above the run-rate target 80 per cent. Management attributed the result to two nonrecurring items: I) increased conservatism in provisioning against reinsurance recoverable; and ii) finalizing programs that were non-renewed in 2021/2022 which generated losses in Q4-23. Management also highlighted a gross loss ratio (the loss ratio passed onto their reinsurance partners) of 65 to 70 per cent for the Q4 and full year 2022/2023. ... Combined with sustained strength in the Canadian business and no new risks emerging, we expect the shares will continue to tick higher in the near term."