The Globe and Mail reports in its Thursday, April 24, edition that after weaker-than-expected second quarter results, Stifel analyst Martin Landry cut his share target for Goodfood Market to 20 cents from 50 cents with an unchanged "hold" recommendation. The Globe's David Leeder writes that analysts on average target the shares at 55 cents. Mr. Landry says in a note: "Unfortunately, the company has not yet been able to stabilize its revenues as Q2FY25 revenues decreased by 23 per cent year-over-year, the largest year-over-year decline in the last six quarters. The decline is due to a reduction in order frequency as customers are seeking alternatives offering more value. This resulted in lower fixed-cost absorption, leading to a 62-per-cent year-over-year decline in adjusted EBITDA. This marks a step change from the year-over-year profitability improvements realized by the company in the last 10 quarters. It is not clear if Goodfood will be able to stabilize its profitability given expectations of continued revenue erosion. This uncertainty is in addition to the potential large dilution risk stemming from the refinancing of the 2027 convertible debenture, creating a difficult backdrop for equity holders."