The Globe and Mail reports in its Wednesday, Nov. 6, edition that National Bank Financial analyst Maxim Sytchev is sticking with his "sector perform" call on Wajax. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sytchev gave his share target a $3 haircut to $23. Analysts on average target the shares at $27.50. Following a "bad" third quarter miss, the retirement of its chief financial officer and with its leverage increasing, Mr. Sytchev sees a "weak set-up" for Wajax, predicting a "tough slog" for the industrial products and services provider. Mr. Sytchev says in a note: "We've been up and running on the name very recently. ... Our concerns around flagging Western Canadian backdrop and lack of scale/competitive advantage in industrial parts/ERS were on display [Monday night]. While investors always need to evaluate 'value' as defined by some metric, P/E, EV/EBITDA, we have always felt that it's 'value relative to an intrinsic dynamic' that determines a compelling thesis. We are not yet seeing this with Wajax, especially in light of post-pandemic pricing unwind that we are witnessing across the distribution space. ... We expect cost control to become a major focus for management moving forward."