Lassonde Industries Inc T.LAS.A

downgraded !

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Lassonde Industries Inc. (LAS-A.TO) was downgraded to Hold from Buy at Desjardins on Monday.

Analyst Frederic Tremblay lowered his price target on shares of the Canadian agri-food company to $180 from $220 following its third quarter results.

"Weaker-than-expected 3Q results and a challenging near-term outlook are attributable to supply chain and inflationary pressures," Tremblay said in a note to clients. "Although demand remains healthy, sales and margins are negatively impacted by labour scarcity issues, especially in the US."

"A tough environment, which is also characterized by elevated input costs, is expected to persist for a few quarters despite efforts to adjust prices," the analyst said.

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* 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

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Will open postion around 100 CAD

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* Trimming his estimates due to the impact of inflation, National Bank Financial’s Ryan Li cut his Lassonde Industries Inc. (LAS.A-T) target by $1 to $169 with an “outperform” rating, while Desjardins’ Frederic Tremblay lowered his target to $155 from $170 with a “hold” rating. The average is $162. “In the near term, we anticipate continued challenges with rising input costs (orange

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* National Bank’s Ryan Li cut his target for Lassonde Industries Inc. (LAS.A-T) to $135, above the $130 average, from $138 with an “outperform” rating, while Desjardins Securities’ Frederic Trremblay lowered his target to $125 from $140 with a “hold” rating. “While we were pleased with continued top-line momentum in 3Q (heavily supported by pricing actions), our enthusiasm remains