Saputo Inc. (SAP) Receives a Buy from CIBC


Yesterday, an analyst has provided a rating update for the Consumer Goods sector company, Saputo Inc. (TSX: SAP). Analyst Mark Petrie from CIBC remains bullish on the stock and has a C$47 price target.

Petrie has an average return of 7.1% when recommending Saputo Inc..

According to TipRanks.com, Petrie is ranked #244 out of 4850 analysts.

Read also: Weight Watchers (WTW) Runs Downhill, But this Analyst Thinks Now Is the Time to Buy the Stock

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Saputo Inc. with a C$45.17 average price target, which is a 10.3% upside from current levels. In a report released yesterday, RBC Capital also reiterated a Buy rating on the stock with a C$49 price target.

.

Based on Saputo Inc.’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$126 million. In comparison, last year the company had a net profit of C$200 million.

Saputo, Inc. produces, markets, and distributes a wide array of dairy products. Its products include cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. The company was founded by Emanuele Saputo Sr. in September 1954 and is headquartered in Saint-LĂ©onard, Canada.

The company’s shares closed on Wednesday at C$40.97.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts