The Globe and Mail reports in its Friday, June 20, edition that Raymond James analyst Michael Glen continues to rate Diversified Royalty "outperform," with an unchanged share target of $22.50. The Globe's David Leeder writes in the Eye On Equities column that Mr. Glen gave his share target a 20-cent boost to $3.60. Analysts on average target the shares at $3.88. Mr. Glen says in a note: "Cheba represents the second U.S. based royalty transaction for Diversified Royalty and management remains active in building awareness of the financing structure with a heavy emphasis in the U.S. The royalty structure is specifically designed for franchise concept owners seeking a monetization alternative that allows for the retention of control and future upside as the concept grows and adds units." The Globe reported on Feb. 27 that Desjardins Securities analyst Gary Ho had commenced coverage on Diversified Royalty with a "buy" recommendation when the shares were going for $2.81. The Globe reported on March 26 that CIBC World Markets analyst Ty Collin was maintaining his "neutral" ranking for Diversified Royalty. The shares could then be had for $2.82.