The Globe and Mail reports in its Thursday, May 8, edition that Scotia Capital analyst Jonathan Goldman has reaffirmed his "sector perform" ranking for Wajax. The Globe's David Leeder writes in the Eye On Equities column that Mr. Goldman raised his share target by $1.50 to $23.50. Analysts on average target the shares at $22.38. Mr. Goldman says in a note: "Q1 was a really strong quarter, including solid execution on new equipment deliveries (including one extra mining shovel that was not in backlog or our model), HSD per cent [high-single digits] product support growth (admittedly a low bar), and strong cost control (SG&A flat year-over-year on 15-per-cent top-line growth). Internal initiatives to improve margins are blunting the impact of lower equipment, ERS and rental margins. But, we have a hard time squaring the circle between results and macro. OEM/peer commentary has focused on market uncertainty leading to cautious end-customer demand and activity levels. The company's own outlook (largely unchanged from Q4) mentions that 'headwinds are expected to persist, with broader market conditions remaining soft and continued uncertainty surrounding tariffs.'"