From Globe & Mail this AM - New Targets Still a long way to go.
* Scotia Capital’s Michael Doumet increased his Ag Growth International Inc. (
) target to $55 from $52 with a “sector outperform” rating. Others making changes include: Desjardins Securities’ Gary Ho to $53 from $48 with a “buy” rating and CIBC’s Jacob Bout to $52 from $51 with an “outperformer” rating. The average on the Street is $52.85.
“AGI reported a strong 2Q beat fuelled by broad-based growth,” said Mr. Ho. “As near-record backlogs, robust pipelines and climbing win rates provide excellent visibility into 2H, AGI increased its 2022 EBITDA guidance to at least $215-million (we forecast $219-million), with growth most pronounced in 3Q. With multiple overhangs dissipating (steel, leverage, bin litigation), augmented by a bullish outlook, AGI is becoming a compelling organic-focused, deleveraging story.”