Scotiabank Sticks to Its Buy Rating for Saputo Inc.

By Austin Angelo

Wall Street analyst has provided a review for the Consumer Goods company yesterday, but retained the same rating on the stock. Saputo Inc. (TSX: SAP) received a Buy rating from Scotiabank’s analyst Patricia Baker, with a C$55 price target.

According to TipRanks.com, Baker is a 4-star analyst with an average return of 10.7% and a 66.7% success rate. Baker covers the Services sector, focusing on stocks such as Walgreens Boots Alliance, Alimentation Couche Tard, and Loblaw Companies Limited.

Saputo Inc. has an analyst consensus of Moderate Buy, with a price target consensus of C$50.

Based on Saputo Inc.’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of C$2.97 billion and quarterly net profit of C$196 million. In comparison, last year the company earned revenue of C$2.73 billion and had a net profit of C$141 million.

Saputo, Inc. engages in the manufacture, market, and trade of dairy products. It operates through the following geographic segments: Canada, United States of America, and International. It offers cheese, milk, cream, yogurt, butter, milk powder, and dairy ingredients. The company was founded by Emanuele Saputo Sr. in September 1954 and is headquartered in Saint-Léonard, Canada.

The company’s shares closed last Tuesday at $43.31.