The Globe and Mail reports in its Thursday, May 15, edition that RBC Dominion Securities analyst Douglas Miehm has reaffirmed his "outperform" recommendation for DRI Healthcare. The Globe's David Leeder writes in the Eye On Equities column that Mr. Miehm hiked his unit target to $18 from $17. Analysts on average target the units at $20.15. Mr. Miehm says in a note: "We view the transaction multiple of approximately four times favorably: DRI will pay $49-million in cash (four times trailing 12-month management fees) as part of the internalization of the external manager. Management estimates that the internalization will result in approximately $200-million in cumulative savings over the next 10 years. We note that earlier this year, Royalty Pharma (RPRX) internalized its management for $1.1-billion. Based on a 6.5-per-cent management fee tied to its 2024 portfolio receipts of $2.8-billion, we calculate a six times transaction multiple. As such, we view DRI's four times multiple as favorable for unitholders. Additionally, DRI management emphasized that the internalization comes with no performance fees and no dilution of unitholders—unlike the RPRX internalization, which involved performance fees and equity issuance."