Saputo Inc. (SAP) Downgraded to “Hold” at Desjardins

Desjardins cut shares of Saputo Inc. (TSE:SAP) from a buy rating to a hold rating in a research report sent to investors on Monday.

A number of other brokerages also recently weighed in on SAP. TD Securities upped their price target on shares of Saputo from C$49.00 to C$52.00 and gave the company a buy rating in a report on Friday, October 27th. National Bank Financial cut their price target on shares of Saputo from C$48.00 to C$47.00 and set a sector perform rating for the company in a report on Wednesday, July 26th. BMO Capital Markets reissued a market perform rating and issued a C$47.00 price target on shares of Saputo in a report on Friday, October 27th. Finally, Royal Bank Of Canada raised shares of Saputo from a sector perform rating to an outperform rating and set a C$48.00 price target for the company in a report on Wednesday, July 19th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of C$50.00.

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In other Saputo news, insider Louise St-Jean sold 838 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of C$43.39, for a total transaction of C$36,360.82.

About Saputo

Saputo Inc produces, markets and distributes dairy products, including cheese, fluid milk, extended shelf-life milk and cream products, cultured products and dairy ingredients. The Company has three geographic sectors. The Canada Sector consists of Dairy Division (Canada). The USA Sector aggregates the Cheese Division (USA) and the Dairy Foods Division (USA).

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