Analyst Scott Marks CFA of Jefferies maintained a Buy rating on Saputo Inc., retaining the price target of C$40.00.
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Scott Marks CFA has given his Buy rating due to a combination of factors that highlight Saputo Inc.’s strong performance and potential for growth. The company exceeded consensus expectations for EBITDA and EPS by approximately 4% and 5%, respectively, driven by increased volumes across almost all regions.
In particular, Canada and the US experienced higher volumes in both retail and foodservice sectors, setting Saputo apart from its peers in the food industry. The company’s strategic pricing actions and commercial initiatives have effectively countered inflationary pressures. Although the cheese-milk spread dynamics slightly impacted US results, management anticipates a stabilization of the US dairy market in the latter half of the year.
In another report released on October 30, RBC Capital also maintained a Buy rating on the stock with a C$42.00 price target.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is neutral on the stock.