The Globe and Mail reports in its Friday, Jan. 17, edition that TD Cowen analyst Patrick Sullivan has assumed coverage on Wajax with a "buy" recommendation and $24 share target, matching the consensus. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sullivan says Wajax offers investors "an attractive risk-return skew." Mr. Sullivan says in a note: "Wajax is trading at 7.6 times P/2025 estimated EPS (consensus), which is toward the low end of its 10-year range of 6.9 to 12.6 times P/FTM [forward 12-month] EPS. 2025/2026 consensus EPS estimates have been revised 20- to 30-per-cent lower over the past nine months, better reflecting the more competitive operating environment, creating an improved setup into 2025. Improved capabilities to compete in heavy equipment space, but will take time to see full benefits. The direct distribution relationship established with Hitachi in March, 2022, excited investors, but the full benefits of the improved relationship will take longer to materialize in the financial results than originally anticipated. Improved access to new equipment/parts and competitive customer financing options are expected to translate into improved equipment sales."