BUZZ-Element Financial Corp: Raymond James upgrades to "strong buy"

Wed Nov 11, 2015 11:09am EST
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** Canadian equipment finance provider's shares up 7.4 pct at C$17.77

** Raymond James analysts upgrade to "strong buy" from "outperform" after company initiates dividend

** "We believe Element features a rare combination of high earnings growth potential, earnings predictability and M&A optionality," the analysts write in a note

** Company initiated quarterly dividend of C$0.025/shr and posted in line Q3 profit of 25 Canadian cents on Tuesday

** All 13 brokerages covering the stock have "buy" or higher rating; median price target is $25

** Up to Tuesday's close, stock had risen 17 pct this year