The Globe and Mail reports in its Friday, Jan. 16, edition that TD Cowen analyst Mario Mendonca has reaffirmed his "buy" recommendation for Trisura Group. The Globe's David Leeder writes that Mr. Mendonca gave his share target a $3 boost to $58. Analysts on average target the shares at $57. Mr. Mendonca says in a note: "Trisura remains our top mid-cap name as we see ongoing strength in U.S. programs. Overall, we expect Q4/25 to be a positive quarter for Trisura, with a continuation of many of the growth trends from Q3/25. The absence of exited lines charges, a better outlook on U.S. programs, continued momentum in surety (higher construction values, share gains, U.S. expansion) and warranty (two most profitable lines), should drive further upside for Trisura. A sustainable 17-per-cent ROE (and the book value growth this implies) comfortably support our 2.5 to 2.6 times target P/B. Similar to last quarter, we continue to favour the P&C insurers over the banks. We expect the P&C industry to exhibit less asset risk and greater top-line stability than the more economically sensitive banks. However, we believe relative valuation favours the life insurance companies over the P&C names at this time."