The Globe and Mail reports in its Wednesday edition that Eight Capital's Christian Sgro has reaffirmed his "buy" recommendation for Vitalhub. The Globe's David Leeder writes that Mr. Sgro raised his share target by $1.25 to $6.25, a new high on the Street. Analysts on average target the shares at $5.71. The Globe says Mr. Sgro is expecting the Toronto-based health care company to continue to grow through M&A activity. Mr. Sgro says, "We see the recent leg-up in the share price as an overdue catch-up and believe 1) there is little risk to the stable fundamental outlook and 2) the valuation still remains attractive compared to peers." On Monday, Vitalhub announced the $2.5-million acquisition of BookWise Solutions, which provides specialist scheduling software for health care and corporate groups. Mr. Sgro says in a note: "We like the BookWise acquisition, which we would frame as bite-sized and exactly in-line with management's consolidation strategy. With ample balance sheet capacity, we think more accretive and synergistic M&A will likely come. We are updating our model to include the acquisition of BookWise. ... We calculate pro forma net cash of $27.3-million, and total available liquidity of $60-million."