The Globe and Mail reports in its Friday, July 4, edition that Desjardins's Gary Ho rates Exchange Income "buy" in new coverage. The Globe's David Leeder writes that Mr. Ho set a share target of $73. Analysts on average target the shares at $71.42. Mr. Ho says in a note: "Exchange Income has ample runway for organic and inorganic growth. ... Meanwhile, investors should be rewarded with steady dividend increases. We are positive on Exchange Income for several reasons: (1) A proven M&A recipe -- since 2004, Exchange Income has executed on 30-plus acquisitions, putting $3.5-billion of capital to work in businesses with market-leading positions, strong leadership, attractive FCF and a history of delivering solid returns over varying cycles. (2) Multitude of growth avenues in aerospace & aviation, including increased traffic in northern Canada, the Atlantic provinces and remote communities, the Canadian North acquisition, increased focus on Arctic security and a growing ISR presence opening the door to a prospective Australian ISR contract win. (3) Utility spending in the U.S. and Canada providing tailwinds for its matting business. We believe its composite mat rental buildout could generate favourable returns."