The Globe and Mail reports in its Thursday, April 23, edition that Ventum Financial analyst George Doumet has reaffirmed his "buy" recommendation and $47 share target for Saputo. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $48.25. Mr. Doumet says in a note: "Following a difficult 2021–2024 marked by commodity volatility and operational headwinds, Saputo saw its earnings trajectory reset, highlighted by the withdrawal of its $2.12-billion EBITDA target. Since then, operating momentum has improved, with margins expanding on network optimization, cost control, and a return to volume growth, particularly in the U.S., where further margin expansion (into the 11– to 12-per-cent range) represents a meaningful source of upside ($8/share beyond our target). Saputo has also shifted toward a more shareholder-focused capital allocation strategy, supported by an under-levered balance sheet (1.4 times). While near-term results may be noisy, we see a path to 6-per-cent EBITDA CAGR [compound annual growth rate] through F2028, with additional upside from volume growth, improving commodity conditions, and M&A."