Canaccord Genuity Group Forecasts Strong Price Appreciation for Maple Leaf Foods (TSE:MFI) Stock

Key Points

• Canaccord raised its price target on Maple Leaf Foods to C$38 (from C$37) and kept a "buy" rating, implying roughly a 28.25% upside from the prior close.
• Several other brokers also lifted targets this week, leaving a MarketBeat consensus of "Buy" with an average price target of C$36.09.
• Despite the upgrades, the stock fell 4.3% to C$29.63; company fundamentals show a low P/E of 6.97 and ROE of 35.43% but a high debt-to-equity ratio of 93.3% and a market cap of about C$3.69 billion.

Maple Leaf Foods (TSE:MFI - Get Free Report) had its target price hoisted by stock analysts at Canaccord Genuity Group from C$37.00 to C$38.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 28.25% from the stock's previous close.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada raised their price target on Maple Leaf Foods from C$33.00 to C$34.00 and gave the stock an "outperform" rating in a research report on Friday. Ventum Financial set a C$37.00 target price on shares of Maple Leaf Foods and gave the stock a "buy" rating in a report on Wednesday, April 22nd. National Bank Financial lifted their target price on shares of Maple Leaf Foods from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a research note on Friday. Ventum Capital increased their price target on shares of Maple Leaf Foods from C$37.00 to C$39.00 and gave the company a "buy" rating in a research report on Friday. Finally, Scotia raised their price target on shares of Maple Leaf Foods from C$32.00 to C$36.00 and gave the stock a "sector outperform" rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$36.09.

Maple Leaf Foods Trading Down 4.3%

TSE:MFI traded down C$1.33 during trading hours on Friday, reaching C$29.63. The company's stock had a trading volume of 238,476 shares, compared to its average volume of 313,395. The company has a debt-to-equity ratio of 93.30, a quick ratio of 0.54 and a current ratio of 1.29. The firm has a market capitalization of C$3.69 billion, a price-to-earnings ratio of 6.97, a PEG ratio of 18.07 and a beta of 0.54. The firm has a 50-day simple moving average of C$29.26 and a 200-day simple moving average of C$27.05. Maple Leaf Foods has a 1 year low of C$23.35 and a 1 year high of C$36.35.

Maple Leaf Foods (TSE:MFI - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported C$0.34 earnings per share (EPS) for the quarter. The firm had revenue of C$962.85 million for the quarter. Maple Leaf Foods had a return on equity of 35.43% and a net margin of 11.76%. Research analysts expect that Maple Leaf Foods will post 1.4334187 EPS for the current fiscal year.

Maple Leaf Foods Company Profile

Maple Leaf Foods Inc is a consumer-packaged meats company. It produces prepared meats and meals, fresh pork, and poultry and turkey products. The company also has agribusiness operations. These operations supply livestock to the meat products business operations. Its main markets are Canada, the United States, Japan, and China. The key brands are Maple Leaf and Schneiders, Maple Leaf Prime Naturally, Shopsy, Mitchell's Gourmet Food, Larse, Parm, and Hygrade.

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