The Globe and Mail reports in its Tuesday, Feb. 11, edition that Desjardins Securities analyst Chris Li continues to rate Saputo "buy." The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Li gave his share target a $3 trim to $31. Analysts on average target the shares at $30.94. Mr. Li says Saputo is well positioned to see earnings before interest, taxes, depreciation and amortization growth accelerate in the coming year, but trade uncertainties will likely remain an overhang on the stock. Mr. Li says in a note: "Saputo remains a 'show me' story but we are still constructive on the earnings set-up for FY26. Assuming market conditions stabilize later this year, we expect continuing network optimization benefits and easier milk-cheese spread comps to drive an acceleration in EBITDA growth to 13 per cent in FY26 from 4 per cent in FY25. While we believe Saputo's depressed valuation largely reflects uncertainties around tariffs/trade wars and dairy price volatility, we expect the stock to be range bound until there is better visibility." The Globe reported on June 11 that Mr. Li had reaffirmed his "buy" call for Saputo. The shares were then worth $29.81.