The Globe and Mail reports in its Thursday, Oct. 31, edition that TD Cowen analyst Graham Ryding has reiterated his "buy" recommendation for First National Financial. The Globe's David Leeder writes in the Eye On Equities column that Mr. Ryding advanced his share target by $4 to $46. Analysts on average target the shares at $42.20. While the company's earnings fell short of the Street's expectations, Mr. Ryding concluded the third quarter release was "neutral," pointing to a "constructive" near-term outlook, a regular dividend increase of 2 per cent and the declaration of a special dividend of 50 cents per share. On Tuesday First National posted adjusted earnings per share of 90 cents, missing Mr. Ryding's estimate by six cents and the Street's projection by nine cents. Mr. Ryding says in a note: "Q3/24 mortgage originations were soft due to muted market activity and heightened lender competition in the mortgage broker channel. That said, management's commentary was constructive noting near-term origination volumes are expected to be up year-over-year. First National is a solid income investment, and we see room for valuation to expand as they lap easier comparable quarters moving into 2025."