The Globe and Mail reports in its Friday, Sept. 25, edition that ATB Cormark analyst Gavin Fairweather has upgraded Thinkific Labs to "outperform" from "sector perform." The Globe's David Leeder writes that Mr. Fairweather boosted his share target by a loonie to $3.25. Analysts on average target the shares at $1.50. Mr. Fairweather views Thinkific Labs' announcement of a 96-employee work force reduction, about one-third of its staff, as transformative for the stock due to the anticipated cash flow relative to its current valuation. Mr. Fairweather says in a note: "Thinkific announced a cost structure reset that refocuses the organization toward its growing Plus business while turning its self-serve business into a meaningful cash cow. The size of the cost reductions will drive a step change in EBITDA beginning in Q4. ... We now model self-serve subscription declining mid-single-digits in H2, 8 per cent in Q1 and high teens by late C27 (15 per cent on the year). This may prove too conservative if new logos are being attracted at lower CAC, pricing/packaging is revised, or the 'mature' cohort is larger than expected. Commerce declines are more moderate given they are tied to successful customers (down 8 per cent)."