The Globe and Mail reports in its Wednesday, Aug. 21, edition that RBC Capital analyst Darko Mihelic is holding on to his "outperform" recommendation for Sagicor Financial Company. The Globe's David Leeder writes in the Eye On Equities column that Mr. Mihelic cut his share target to $8.50 from $9. Analysts on average target the shares at $8.67. Mr. Mihelic says in a note: "Reported results were a little lower than we expected but we like the progress that SFC has made on delivering an IFRS 17 drivers of earnings analysis and a 'core' framework. Our estimates are now on a core basis (previously reported basis), reflecting management guidance which was revised downward for core earnings. We assume good growth potential in the U.S. as management plans to invest capital. The gap between reported and core results was rather large this quarter but this does not faze us." The Globe reported on Oct. 6 and Aug. 1 that National Bank rated Sagicor Financial "outperform." It was then worth $4.90 and $6. The Globe reported on Aug. 2 and Aug. 16 that Scotia Capital analyst Meny Grauman rated Sagicor Financial "sector outperform." It was then worth $6.02 and $5.70.