The Globe and Mail reports in its Tuesday, Sept. 29, edition that Scotia Capital analyst Jonathan Goldman has reaffirmed his "sector outperform" recommendation for 5N Plus. The Globe's David Leeder writes in the Eye On Equities column that Mr. Goldman gave his share target a $2 boost to $37. Analysts on average target the shares at $45.3. Mr. Goldman says in a note: "5N Plus shares are trading at 16.1 times EV/EBITDA on our 2027 estimates, down 25 per cent from peak of 21.5 times in June. Sector valuations have also come off, but not to that degree: Defence (down 15 per cent), Semis (down 15 per cent), Solar (down 3 per cent), Space (down 15 per cent). However, we do not view 5N Plus as a purely sentiment-driven or speculative story. The company is already benefitting from durable secular trends with 2/3 of top-line contracted out to 2027/2028 supporting high double-digits growth before any contribution from defence. Gross margin compression is a temporary blip while operating leverage supports additional margin expansion. The balance sheet is in great shape with net debt to EBITDA including leases of 0.5 times as at 2Q26 down from one times last quarter."