The Globe and Mail reports in its Wednesday, Oct. 8, edition that National Bank Financial analyst Michael Doumet thinks 5N Plus still has "a few tricks up its sleeves" and sees upside to both its 2025 guidance and the Street's expectations. The Globe's David Leeder writes in the Eye On Equities column that Mr. Doumet, seeing an opportunity for growth, raised his share target to $21 from $17, while maintaining an "outperform" recommendation. Analysts on average target the shares at $19.50. Mr. Doumet says in a note: "There were several reasons to be bullish at the start of 2025: the company was poised for (I) potential upsizing of contract with FSLR (done), (ii) upside to its 2025 guide (more to go), and (iii) potential M&A catalysts (before year-end?). While 5N Plus raised its guidance in Q2, we believe there to be a high likelihood that it will do so again in Q3, in part because the guide still appears too conservative relative to its revenue momentum (in specialty semiconductors) and cost favourability (in performance materials). 5N Plus guided for 2025 EBITDA of $65-million to $70-million. We think it will likely land above $80-million (vs. Street at $77-million). Maybe above $85-million?"