The Globe and Mail reports in its Thursday, Aug. 14, edition that CIBC Capital Markets analyst Krista Friesen began coverage on TerraVest Industries with a "neutral" recommendation and a $175 share target. The Globe's David Leeder writes that analysts on average target the shares at $186.80. Ms. Friesen says in a note: "TerraVest Industries is a Canadian industrial manufacturer and serial consolidator with operations mostly across North America. The company produces a diverse range of engineered products for energy, infrastructure, HVAC and water end-markets, and has a long track record of acquiring and integrating niche manufacturers to drive long-term growth and free cash flow (FCF). We are positive on TerraVest Industries' long-term growth outlook, with our 'neutral' rating reflecting the company's elevated valuation based on near-term expectations. Our $175 price target is derived using a sum-of-the-parts valuation, resulting in an average EBITDA multiple of 11.5 times. Further upside could be unlocked as the company deleverages and integrates EnTrans." The Globe reported on March 19 and May 27 that Desjardins had reaffirmed its "buy" call for TerraVest Industries. The shares were then going for $137.16 and $164.