The Globe and Mail reports in its Wednesday edition that Eight Capital analyst Jacques Wortman believes Sherritt International offers "strong" leverage to both nickel and cobalt. The Globe's David Leeder writes that Mr. Wortman began coverage on Sherritt with a "buy" rating. He targets the shares at $2.20. Analysts on average target the shares at $1.97. Mr. Wortman says in a note: "Despite the diversity of the company's overall operations, Sherritt International is fundamentally a nickel and cobalt investment vehicle via its 50-per-cent interest in the Moa JV. ... Sherritt's Moa JV interest makes it one of the largest producers of cobalt among investment vehicles domiciled in North America. In addition, Sherritt also holds a 12-per-cent interest in Ambatovy, although no dividends from this interest are expected until 2027 due to significant precedent debt (about $4 billion) at the JV level. Given the recent announcements by automakers and growing awareness of electric vehicle (EV) technology, Sherritt shares have seen increased demand in the last six months. Despite the recent correction, we believe that coming demand for cobalt and nickel associated with EVs will potentially eclipse market forecasts."