The Globe and Mail reports in its Friday, Nov. 15, edition that National Bank Financial analyst Zachary Evershed has reaffirmed his "outperform" recommendation for Mattr. The Globe's David Leeder writes in the Eye On Equities column that Mr. Evershed cut his share target back by a loonie to $21. Analysts on average target the shares at $20.59. Mr. Evershed says in a note: "Despite recent macro setbacks, the long-term thesis remains intact, as the new facilities ramp up to serve niche and critical infrastructure end markets. Specifically for Flexpipe, the spin up of the new Texas facility remains a foundational driver of underlying organic growth and margin expansion as Mattr's large diameter products continue to take share (outpacing industry-wide activity levels) with the benefit of lowered cost/meter produced and lower freight costs given proximity to customers. Nonetheless, international orders have been pushed to the right, and with incrementally negative views on North American O&G activity, the company has taken decisive action to rightsize the cost base by $20-million (75 per cent in composite technologies) to acknowledge a slower than anticipated ramp up of the new facility."