The Globe and Mail reports in its Wednesday, March 25, edition that RBC Capital Markets analyst Jimmy Shan has boosted his recommendation for GO Residential REIT to "outperform" from "sector perform." The Globe's Darcy Keith writes that Mr. Shan trimmed his unit target by a buck to $13.50 (all figures U.S.). Analysts on average target the units at $15.57. Mr. Shan says GO Residential units now offer an "asymmetric risk-reward." Mr. Shan says in a note: "Post-IPO price action and investor rotation, we see limited downside given valuation level that is now at a discount to U.S. peers (leverage neutral), to private market and to recent privatization of its closest comp. On the other hand, despite equity dilution and leverage not improving, we see upside in better than IPO forecast results (Q4 plus 12 per cent), relatively stronger fundamentals in Manhattan, and GO proving out its acquisition thesis while gaining scale, both essential for newly-listed small caps to outperform." The Globe reported on Oct. 15 that Mr. Shan said GO had elements he liked in a REIT. The units were then worth $12.04. The Globe reported on Nov. 14 that National Bank had reiterated its "outperform" call for GO. The units were then worth $11.03.