The Globe and Mail reports in its Tuesday edition that Canaccord analyst Luke Hannan hiked his share target for AutoCanada to $28 from $24 following news that executive chair Paul Antony will be transitioning from his current role as the company searches for a new chief executive officer. The Globe's Darcy Keith writes that upon the appointment of a CEO, Mr. Antony will then become non-executive chair of the board to ensure continuity and oversight during this transition period. Mr. Hannan, who rated AutoCanada "buy," says investors will welcome the news because it signals the company is addressing governance and succession issues. Mr. Hannan says in a note: "Recall, AutoCanada has technically been without a CEO since August, 2018, though since then, Mr. Antony has been the company's de facto CEO. Conducting a thorough evaluation of both internal and external candidates for the CEO role and, implicitly, establishing a succession plan thereafter should provide investors a higher degree of confidence that AutoCanada is well positioned for long-term value creation. ... We continue to like AutoCanda's near-term growth prospects, primarily given the progress on cost rationalization and the likely sale of the US business."