The Globe and Mail reports in its Wednesday, May 3, edition that Raymond James analyst Bryan Fast is sticking with his "outperform" call on Wajax. The Globe's David Leeder writes that Mr. Fast boosted his share target to $28 from $27. Analysts on average target the shares at $28.25. Mr. Fast says in a note: "After lagging the peer group last year, Wajax has been one of the best performing stocks in our coverage year to date, up 23 per cent compared to the machinery comps up 5 per cent and the TSX up 7 per cent. The company has made progress on key strategic initiatives in recent quarters. Efforts in increasing relative weighting to engineered repair services (ERS) and industrial parts, is bearing fruit as earnings hit multiyear highs. Wajax's more direct relationship with Hitachi is in the early stages, but initial signals are encouraging. The Japanese OEM is aiming to be a top-three manufacturer of construction machinery by 2028, a lofty target given they sit at the lower end of the top ten currently. With Wajax holding the exclusive distribution rights for Hitachi in Canada, the company is well positioned should they achieve those goals. We look for more meaningful M&A ahead."