The Globe and Mail reports in its Tuesday, Aug. 13, edition that RBC Capital analyst Tom Callaghan has reiterated his "sector perform" recommendation for Premium Brands Holdings. The Globe's David Leeder writes in the Eye On Equities column that Mr. Callaghan tweaked his share target ahead by a loonie to $100. Analysts on average target the shares at $111.
Mr. Callaghan says in a note: "Premium Brands Q2 results were broadly in-line with the Street and, like Q1, reflected continued progress with respect to delivery of improving margin performance. At the same time, the backdrop remains somewhat cloudy given a stretched consumer -- particularly in Canada, which along with certain product launch delays increases the likelihood that 2024 financial performance comes in toward the low-end of the guided range." The Globe reported on March 19 that Desjardins rated Premium Brands "buy," when it was worth $88.98. The Globe reported on May 1 that National Bank Financial analyst Vishal Shreedhar rated Premium Brands "sector perform." It was then worth $88.90. The Globe reported on May 15 that Stifel analyst Martin Landry had reaffirmed his "buy" recommendation for Premium Brands, which was then worth $92.81.
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