The Globe and Mail reports in its Friday edition that Scotia Capital analyst Meny Grauman has reaffirmed his "sector outperform" recommendation for Sagicor Financial. The Globe's David Leeder writes in the Eye On Equities column that Mr. Grauman boosted his share target by a loonie to $10. Analysts on average target the shares at $9. Mr. Grauman says in a note: "Although core EPS was in line with both our expectations and management guidance, we believe that this understates the quality of Sagicor's Q3 results given the strength we saw in its U.S. business. Not only did annuity sales ramp up to $292-million (U.S.) from Q2s $211-million (U.S.), but core earnings was up 89-per-cent sequentially as insurance experience in the unit swung from loss in both Q1 and Q2 to a $4.4-million (U.S.) gain. The momentum we saw in Sagicor's U.S. business this quarter gives us increased confidence that the lifeco will be able to deliver on its medium-term ROE target of 13 per cent, and that highlights just how much upside there is in the shares given that they currently trade at just under 0.7 times book." The Globe reported on Aug. 2 and Aug. 16 that Mr. Grauman rated Sagicor "sector outperform." It was then worth $6.02 and $5.70.