The Globe and Mail reports in its Tuesday, June 10, edition that National Bank Financial analyst Vishal Shreedhar has reaffirmed his "outperform" recommendation for Saputo. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shreedhar boosted his share target by a loonie to $29. Analysts on average target the shares at $30.33. While he sees a "constructive" outlook for its current fiscal year after in-line fourth quarter fiscal 2025 results, Mr. Shreedhar acknowledges Saputo continues to be "a show-me story which will take several quarters of solid execution before gaining meaningful traction." Mr. Shreedhar says in a note: "We expect investor focus to be on steady execution amid a volatile commodity and macro backdrop. Saputo expects growth in all sectors and operating margin expansion (optimization/capacity expansion). Longer term, Saputo is accelerating efforts to expand sales into new markets (Southeast Asia, Japan and the Middle East) via its existing operation. U.S. results to benefit from the new USDA milk pricing formula ($60-million (U.S.) to $70-million (U.S.) annualized; to manifest in early Q2 as Saputo cycles older inventory). ... Saputo expects continued strong Canada performance."