The Globe and Mail reports in its Thursday, Oct. 16, edition that Scotia Capital analyst Phil Hardie has reiterated his "sector perform" call for IGM Financial. The Globe's David Leeder writes that Mr. Hardie gave his share target a $7 boost to $64. Analysts on average target the shares at $54.50. Mr. Hardie says in a note: "IGM announced an updated valuation of its stake in Rockefeller Capital Management following a recent recapitalization transaction. Based on the deal valuation, IGM's equity stake in Rockefeller is currently valued at $1.58-billion ($6.69/sh), up $750-million ($3.18/sh) from its initial investment of $835-million in 2023. IGM will remain the second largest and a strategic investor post-sale of a small portion of its interest to support the goal of the recapitalization transaction. We see the transaction as providing another tangible data point demonstrating the value creation potential of its portfolio of its strategic investments, which we continue to believe is not fully reflected in its stock price and remains a source of overlooked value. Wealthsimple provides another example, with estimated value of IGM's stake in the company rising by almost 80 per cent over the last year."