The Globe and Mail reports in its Tuesday, Feb. 13, edition that Scotia Capital analyst George Doumet has reaffirmed his "sector outperform" recommendation for Saputo. The Globe's David Leeder writes that Mr. Doumet hiked his share target by a loonie to $32.50. Analysts on average target the shares at $32.95. Mr. Doumet says in a note: "Q3 results were noisy (Australian write-down, Argentinian devaluation, and inventory flush in Europe) and missed Street expectations by 3 per cent (in line with us). While these results triggered downward revisions to estimates (5 per cent on our Q4E and 2 per cent on our F25E), we would take advantage of the weakness in the shares. All in all, we like the set-up ('trough-ish' U.S., International, and Europe margins against a 10-year trough valuation). FCF is set to inflect over the NTM (lower capex), implying a F25 FCF yield of 8.3 per cent (one of the highest in our coverage), paving the way for significant deleveraging (and, we hope, increased capital returns to shareholders in the near to medium term)." The Globe reported on Jan. 18 that Mr. Doumet had elevated his recommendation for Saputo to "sector outperform" from "sector perform." The shares could then be had for $28.