From Globe & Mail this AM RBC Dominion Securities analyst Andrew Wong raised his Ag Growth International Inc. (
) target to $45 from $42, keeping an “outperform” rating. The average is $47.44.
“We expect another solid quarter in Q4 but note that seasonality could weigh on revenue and EBITDA quarter-over-quarter,” he said. “Still, we think the setup for 2022 is positive due to a combination of record backlogs, a very favourable ag environment, and the potential for margin improvement as steel prices come off record highs. We continue to focus on AGI’s strong fundamentals, and we think that shares could re-rate as the overhang from the bin incident fades and the company moves to de-lever the balance sheet.”
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