Scotiabank Lowers Saputo Inc. (SAP) Price Target to C$57.00
Saputo Inc. (TSE:SAP) had its price objective lowered by Scotiabank from C$58.00 to C$57.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 26.98% from the stock’s previous close.
A number of other analysts also recently weighed in on SAP. Royal Bank Of Canada upgraded Saputo from a “sector perform” rating to an “outperform” rating and set a C$48.00 target price for the company in a research report on Wednesday, July 19th. National Bank Financial lowered their price objective on Saputo from C$48.00 to C$47.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 26th. TD Securities upgraded Saputo from a “hold” rating to a “buy” rating and boosted their price objective for the company from C$48.00 to C$49.00 in a research report on Wednesday, August 2nd. BMO Capital Markets reiterated a “market perform” rating and issued a C$47.00 price objective on shares of Saputo in a research report on Friday, October 27th. Finally, Desjardins downgraded Saputo from a “buy” rating to a “hold” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of C$50.29.
Saputo (TSE:SAP) traded down C$1.55 during trading hours on Friday, reaching C$44.89. The company had a trading volume of 478,416 shares.
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In related news, insider Louise St-Jean sold 838 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of C$43.39, for a total value of C$36,360.82.
Saputo Inc produces, markets and distributes dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. The Company has three geographic sectors. The Canada Sector consists of Dairy Division (Canada). The USA Sector aggregates the Cheese Division (USA) and the Dairy Foods Division (USA).
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