RE:downgraded ! * Desjardins Securities’ Frederic Tremblay cut his Lassonde Industries Inc. (LAS.A-T) target to $170 from $180 with a “hold” rating.
“4Q results reflected the continuing impact of labour-related issues in the U.S. along with supply chain and inflationary headwinds,” he said. “These challenges are expected to impact Lassonde in 2022, although management expects some relief in 2H22 from price increases and optimization initiatives. While we are encouraged by the launch of new strategic initiatives to accelerate growth and drive margin improvement in the mid- to long term, we remain on the sidelines due to near-term headwinds,” he said.