The Globe and Mail reports in its Tuesday, June 11, edition that Desjardins Securities analyst Chris Li has reaffirmed his "buy" recommendation for Saputo. The Globe's David Leeder writes in the Eye On Equities column that the Desjardins stockpicker gave his share target a $2 boost to $35. Analysts on average target the shares at $33. Despite acknowledging "persistent market factor volatility," Mr. Li still thinks Saputo is poised for an inflection point for earnings and free cash flow, "supported by factors largely within [the company's] control, including network optimization benefits, operational improvements, meaningfully lower Australian farm gate milk prices and cycling past high-cost inventory in Europe." Mr. Li says in a note: "Combined with a significant capex reduction, FCF should accelerate, supporting share buyback initiation. M&A is on the back burner as Saputo is focused on organic growth." On Thursday Saputo posted fourth quarter 2024 adjusted earnings before interest, taxes, depreciation and amortization of $379-million, exceeding both Mr. Li's $360-million estimate and the consensus projection of $366-million due largely to outperformance from its U.S. and International segments.