The Globe and Mail reports in its Tuesday edition that Canaccord analyst Jeremy Ho has elevated his recommendation for Wesdome Gold Mines to "buy" from "hold." The Globe's David Leeder writes that Mr. Ho hiked his share target by a loonie to $31. Mr. Ho says in a note: "Model changes were modest, with the target price increase primarily reflecting our quarterly roll-forward, which increased our NTM [next 12-month] EBITDA estimate. ... At current levels, our revised target implies an 18-per-cent return, supporting our rating upgrade. We continue to forecast average annual production of 187 koz over the next five years at $1,632/oz AISC, generating average free cash flow yields of 14 per cent. Per [last week's] daily gold update, shares trade at 3.1 times 2027 estimated EBITDA (vs. junior peers at 4.2 times) and 0.89 times NAV (above junior peers at 0.42 times, but broadly in line with Wesdome's three-year historical average). While our overall view of the company is largely unchanged, we believe the shares have already reflected the impact of last year's guidance revisions, with risk increasingly skewed to the upside, particularly ahead of upcoming technical reports and reserve/resource updates for Kiena and Eagle River."