Desjardins Ahead of the Aug. 5 release of its second-quarter results. Desjardins Securities’ Chris Li cut his Premium Brands Holdings Corp. target to $130 from $150, keeping a “buy” rating. The average is $137.
“Overall, we expect 2Q results to reflect continuing solid execution against a backdrop of ongoing industry challenges,” he said. “We have trimmed our estimates to reflect pressures that are largely transitory. We expect profitability to continue to improve in 2H22. As macro conditions improve and commodity input costs stabilize, PBH should receive nice margin torque next year, with EBITDA upside from M&A.”