The Globe and Mail reports in its Tuesday, Nov. 18, edition that Scotia Capital analyst John Zamparo is keeping his "sector perform" call on George Weston intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Zamparo raised his share target to $100 from $99. Analysts on average target the shares at $104.52. Mr. Zamparo says in a note: "Weston's 19-per-cent sum-of-the-parts (SoTP) discount is much wider than normal, and is approaching two standard deviation levels (19.7 per cent). We continue to see a near-term trading opportunity as the discount seems much more likely to narrow than widen; however, identifying a catalyst proves challenging. Our estimates are mostly unchanged and involve greater proceeds from participation in Loblaw's buyback and slightly higher corporate costs." The Globe reported on Aug. 22 that Mr. Zamparo said he remained "constructive" on George Weston. Mr. Zamparo continued to rate George Weston "sector perform." The shares were then going for $88.17.
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