The Globe and Mail reports in its Saturday, May 20, edition that Raymond James analyst Brad Sturges has reiterated his "strong buy" recommendation for Nexus Industrial REIT. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sturges gave his unit target a modest tweak down to $12 from $12.50. Analysts on average target the units at $11.98. Mr. Sturges says in a note: "Nexus has several avenues to transform the quality and growth profile of its Canadian industrial portfolio through its various strategic initiatives: 1) the acquisition of high-quality industrial real estate in targeted Canadian primary and secondary markets; 2) starting development and expansion projects on existing excess land; and 3) the executed sale of non-core industrial and non-industrial assets. As Nexus successfully executes its three-pronged strategy, we believe the REIT can rerate to a higher P/AFFO multiple to reflect its improved quality and growth prospects." The Globe reported on Dec. 10 that Mr. Sturges rated Nexus "strong buy." The units were then worth $9.92. The Globe reported on Feb. 14 and March 21 that BMO rated Nexus "market perform." The units could then be had for $10.71 and $9.64.