The Globe and Mail reports in its Wednesday, Oct. 30, edition that RBC Capital Markets analyst Irene Nattel has reiterated his "outperform" recommendation for Saputo. The Globe's David Leeder writes in the Eye On Equities column that Ms. Nattel lowered her share target by a loonie to $38. Analysts on average target the shares at $34.44. Ms. Nattel says in a note: "Moderating forecasts ahead of FQ2 results as commodity, operating, and geographic backdrops remain mixed. Nonetheless, we remind investors that F25 is a key inflection year with several critical elements to help stabilize the business, and we remain constructive on the longer-term outlook with normalizing commodity backdrop an important caveat. As we move through F25/26 and full commissioning/run rate benefits of the $2-billion-plus capital program, focus on controlling the controllables should drive improving results, with U.S. segment optionality in F26 related to ongoing discussion among stakeholders to amend the milk pricing formula." The Globe reported on May 9, 2023, and Feb. 2, 2024, that Ms. Nattel had reaffirmed her "outperform" recommendation for Saputo, which was then going for $35.18 and $28.21.