The Globe and Mail reports in its Thursday, Dec. 19, edition that Stifel analyst Martin Landry has reaffirmed his "buy" recommendation for Groupe Dynamite. The Globe's David Leeder writes in the Eye On Equities column that Mr. Landry raised his share target to $28.50 from $27.50. Analysts on average target the shares at $26.42. Mr. Landry thinks Groupe Dynamite "successfully" passed its first test as a public company with Tuesday's release of "strong" third quarter financial results. Groupe Dynamite reported net revenue of $258.77-million, up 17.5 per cent and exceeding the analyst's estimate of $259.03-million. Net earnings rose 22 per cent to $43.7-million and also topped Mr. Landry's $42.4-million estimate. He says in a note: "These results were not a surprise as the company had prereleased some metrics related to Q3FY24 in its prospectus. However, results came-in at the high end of the prereleased ranges. Momentum for Q4FY24 appears to continue with a good performance on Black Friday as per management. While the share reaction was muted, up 0.5 per cent, they should trade higher once the IPO overhang clears as we believe that some investors with a shorter-term horizon may still be recycling their shares in the market."