Superior Plus downgraded to Neutral from Outperformer at CIBC

CIBC analyst Robert Catellier downgraded Superior Plus (SUUIF) to Neutral from Outperformer with a price target of C$8, down from C$9. Superior’s Q4 results slightly missed expectations, and guidance was revised lower due to a one-year delay in the Superior Delivers initiative, the analyst tells investors in a research note. While the plan’s efficiency and cost-saving benefits remain promising, the delay adds near-term execution risk, with Q4 EBITDA seeing an $11.2M contribution, implying a $44M run-rate benefit, the firm says.