The Globe and Mail reports in its Friday, April 12, edition that Scotia Capital analyst Kevin Krishnaratne has reiterated his "sector outperform" recommendation and $24 share target for Dye & Durham. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $21.17. Mr. Krishnaratne says Dye & Durham's recent $905-million (U.S.) refinancing transactions provide balance sheet flexibility. Mr. Krishnaratne says Dye & Durham's free cash flow profile is "poised to benefit." Coming off a research restriction following the deals, the analyst says the legal software vendor continues to be exposed to real estate transaction volumes, but he says he is "encouraged by management's ability to advance more of its revenue to a recurring model via minimum volume pricing and upsell/cross-sell of more subscription practice management solutions, a strategy that should benefit from the rollout of its global unity platform." Mr. Krishnaratne says in a note, "We still see opportunities for even further balance sheet optimizations via the sale of non-core assets and other initiatives to deleverage and drive free-cash-flow upside."