The Globe and Mail reports in its Wednesday, May 28, edition that Canaccord Genuity analyst Luke Hannan commenced coverage of Premium Brands Holdings with a "buy" ranking, seeing it "getting back on track for durable organic revenue growth." The Globe's David Leeder writes in the Eye On Equities column that Mr. Hannan set a share target of $100. Analysts on average target the shares at $103.62. Mr. Hannan says in a note: "Premium Brands offers investors high single-digit organic growth through the specialty foods (SF) business across each of its three distinct platforms (i.e., protein, sandwich, bakery and culinary), as well as mid-single-digit organic growth through its Premium Foods Distribution (PFD) segment made up of two platforms (Distribution and Seafood). In the latter portion of 2024, a slowdown in consumer spending and sales challenges at a key foodservice customer led to 2024 results falling short of expectations. ... We believe Premium Brands shares present compelling upside given its long-term organic growth profile, prospects for continued SF growth in the U.S., and its strong brand portfolio." The Globe reported on May 9 that Scotia Capital rated Premium Brands "sector perform." It was then worth $83.11.
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