Saputo Inc. (SAP) Receives a Buy from RBC Capital


In a new note to investors today, an analyst has provided a rating update for Saputo Inc. (SAP). Analyst Irene Nattel from RBC Capital rated Saputo Inc. (SAP) a Buy, setting a C$50 price target.

According to TipRanks.com, Nattel is a 4-star analyst with an average return of 4.8% and a 58.9% success rate. Nattel covers the Services sector, focusing on stocks such as Loblaw Companies Limited, Canadian Tire Corp Ltd, and Casey’s General.

Read also: Analysts Remain Bullish on Canada Goose (GOOS) Stock Despite Earnings Setback

Currently, the analyst consensus on Saputo Inc. is a Moderate Buy with an average price target of C$46.40, implying a 16.4% upside from current levels. In a report issued on May 23, Scotiabank also reiterated a Buy rating on the stock with a C$51 price target.

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Based on Saputo Inc.’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$342 million. In comparison, last year the company had a net profit of C$130 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 Friday at C$39.87.

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