Scotiabank Raises Saputo (TSE:SAP) Price Target to C$36.00

Key Points

• Scotiabank raised its price target for Saputo from C$29.00 to C$36.00, indicating a potential upside of 11.49% from the stock's previous close, while maintaining an "outperform" rating.
• Other analysts have also increased their price targets for Saputo, with Royal Bank of Canada setting a target of C$37.00 and TD Securities at C$38.00, reflecting positive sentiment towards the stock.
• As of the report, Saputo shares traded at C$32.29, showing a slight increase of 0.9%, with an average rating of "Moderate Buy" and an average target price of C$34.63 among analysts.

Saputo (TSE:SAP - Get Free Report) had its price target lifted by equities researchers at Scotiabank from C$29.00 to C$36.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Scotiabank's price objective suggests a potential upside of 11.49% from the stock's previous close.

SAP has been the subject of several other research reports. Royal Bank Of Canada boosted their price objective on Saputo from C$35.00 to C$37.00 and gave the stock an "outperform" rating in a research report on Friday. National Bankshares upped their price target on Saputo from C$29.00 to C$35.00 and gave the company an "outperform" rating in a report on Monday. TD Securities upped their price target on Saputo from C$35.00 to C$38.00 and gave the company a "buy" rating in a report on Monday. Desjardins upped their price target on Saputo from C$31.00 to C$36.00 and gave the company a "buy" rating in a report on Monday. Finally, BMO Capital Markets upped their price target on Saputo from C$27.00 to C$34.00 in a report on Monday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of C$34.63.

Saputo Stock Up 0.9%

Shares of TSE:SAP traded up C$0.29 on Monday, reaching C$32.29. The company had a trading volume of 576,323 shares, compared to its average volume of 683,495. Saputo has a twelve month low of C$22.59 and a twelve month high of C$32.91. The stock has a 50-day moving average price of C$27.77 and a 200 day moving average price of C$26.17. The stock has a market capitalization of C$13.61 billion, a P/E ratio of -86.45, a P/E/G ratio of 0.56 and a beta of 0.32. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 51.68.

Saputo Company Profile

Saputo is a global dairy processor domiciled in Canada (28% of fiscal 2022 sales) with operations in the United States (43%), the U.K. (6%), and other international markets (23%). It sells cheese, cream, fluid milk, and other dairy products. In the retail segment (50% of revenue), its mix of brands include Saputo, Armstrong, Cheer, Cathedral City, and Frylight.

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