The Globe and Mail reports in its Friday edition that Raymond James analyst Judith Elliott has reaffirmed her "outperform" recommendation for Ivanhoe Electric. The Globe's David Leeder writes in the Eye On Equities column that Ms. Elliott tweaked her share target down by a buck to $20, matching the consensus (all figures U.S.). Ms. Elliott says in a note: "Overall, we view the update as positive with the PFS being an important derisking milestone for Santa Cruz ahead of initial construction. While we note 15-per-cent higher development capex and 11-per-cent higher operating costs, these are offset by a slightly better copper production profile and higher copper price assumptions than the 2025 PFS, driving a higher NPV. We note the project remains subject to final permitting for exploitation and project financing." The Globe reported on Oct. 15 that Scotia Capital analyst Andrew Dusome said, "We believe Ivanhoe warrants a premium multiple vs. peers driven by the attractiveness of the Santa Cruz Copper project." It was then worth $16.99. The Globe reported on April 16 and July 15 that National Bank analysts Shane Nagle and Rabi Nizami rated Ivanhoe Electric "outperform." The shares could then be had for $14.96 and $8.64.