BMO Capital analyst Etienne Ricard has maintained their bullish stance on MFI stock, giving a Buy rating yesterday.
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Etienne Ricard has given his Buy rating due to a combination of factors tied to Maple Leaf Foods’ long-term growth plan and improving financial profile. He highlights management’s 2030 targets for steady revenue expansion, a meaningful lift in EBITDA margins, and a sharp inflection in free cash flow generation, all supported by a disciplined capital structure and leverage kept below 3x.
He also underscores the strength of the Canadian core franchise, reinforced by ongoing product innovation, new brand platforms, and broader channel penetration, alongside double-digit U.S. growth from distribution gains and category expansion. Coupled with structural margin initiatives, prudent capital allocation, and flexibility for dividends, buybacks, and selective M&A, Ricard expects the company to justify and maintain a high-teens earnings multiple, supporting his Buy recommendation.
Ricard covers the Financial sector, focusing on stocks such as Fiera Capital A, Sprott, and goeasy. According to TipRanks, Ricard has an average return of 27.3% and a 65.94% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a C$33.00 price target.