The Globe and Mail reports in its Thursday, Jan. 19, edition that Stifel analyst Martin Landry has reaffirmed his "hold" recommendation for Goodfood Market. The Globe's David Leeder writes in the Eye On Equities column that Mr. Landry gave his share target an eight-cent boost to 60 cents. Analysts on average target the shares at 62 cents. Though Goodfood's first quarter results largely fell in line with expectations, Mr. Landry sees limited near-term catalysts for shares of the company as customer "erosion" continues to weigh on revenue, wanting to see "a stabilization" in cash flow before he reconsiders his investment thesis. Mr. Landry says in a note: "Goodfood's revenues have been in decline for the last four quarters driven by increased competition in the meal-kit subscription sector, which we estimate has reduced Goodfood's market share by 1000 basis points in the last year (from 35 per cent to 25 per cent). The revenue decline in meal kit subscriptions may abate, but we doubt this segment will return to the growth engine it once was. ... We believe the meal kit industry could experience demand softness due to inflationary pressures and a potential economic slowdown."