The Globe and Mail reports in its Wednesday, Feb. 4, edition that Desjardins Securities analyst Gary Ho continues to rate Fiera Capital "hold." The Globe's David Leeder writes in the Eye On Equities column that Mr. Ho gave his share target a 25-cent trim to $6.50. Analysts on average target the shares at $7.50. Mr. Ho says in a note: "Fiera Capital reported preliminary December AUM [assets under management] of $164.1-billion, down 1.7 per cent quarter-over-quarter. While private markets AUM was flat sequentially, we were surprised by the larger $3.4-billion quarter-over-quarter decline in PineStone AUM. Fiera Capital tends to generate higher performance fees in Q4, but Frontier Fund performance has been soft in 2025. Otherwise, we will look for an update on new mandate wins and early progress from infrastructure team changes." The Globe reported on July 4 that Mr. Ho rated Exchange Income "buy" in new coverage. The shares were then going for $64.72. He reaffirmed his "buy" call again on Jan. 23 when the shares could be had for $96.95.