The Globe and Mail reports in its Friday, Oct. 25, edition that National Bank Financial analyst Vishal Shreedhar has reaffirmed his "sector perform" recommendation for Premium Brands Holdings. The Globe's David Leeder writes that Mr. Shreedhar gave his share target an $8 boost to $109. Analysts on average target the shares at $111.78. Mr. Shreedhar notes that Premium Brands' U.S. initiatives "continue to roll-out." He believes Premium Brands is poised for "strong growth" in the fourth quarter and beyond. The company posts its third quarter results on Nov. 6. Mr. Shreedhar says in a note: "Over the medium term, we believe that Premium Brands Holdings' outlook will be supported by solid organic growth and EBITDA margin expansion (to 9.8 per cent in 2025 from 8.9 per cent in 2023). We value Premium Brands at 10.5 times our 25/26 EBITDA." The Globe reported on May 1 that Mr. Shreedhar rated Premium Brands "sector perform." It was then worth $88.90. The Globe reported on May 15 that Stifel rated Premium Brands "buy." It was then worth $92.81. The Globe reported on Aug. 13 that RBC Capital analyst Tom Callaghan had reiterated his "sector perform" recommendation for Premium Brands, which was then going for $85.97.
© 2024 Canjex Publishing Ltd. All rights reserved.