The Globe and Mail reports in its Wednesday edition that Raymond James analyst Michael Glen has reaffirmed his "outperform" recommendation for ATS. The Globe's David Leeder writes that Mr. Glen gave his share target a $6 trim to $52. Analysts on average target the shares at $53.71. Mr. Glen says in a note: "As we enter ATS F2Q report, we are opting to trim our forecast to reflect ongoing headwinds in the EV segment alongside slightly more muted results across other segments. With such changes, we are lowering our F2Q revenue assumption to $630-million (versus $663-million previously), which represents a backlog conversion rate of 33.5 per cent and rests at the lower end of the 33- to 36-per-cent guidance range provided. With these adjustments, our new Adj. EBITDA forecast is $77-million, which represents a margin of 12.2 per cent and a sequential decline of approximately 300 basis points from 1QF25. ... Additionally, investors should recall that ATS also guided toward a restructuring charge of about $15-million to $20-million over the next few quarters as the company right sizes its EV business. ... [We] remain optimistic we will see the business start to rebound off this trough through the balance of the year."