19:05:15 EDT Sun 28 Apr 2024
Enter Symbol
or Name
USA
CA



Ag Growth International Inc
Symbol AFN
Shares Issued 18,900,958
Close 2023-10-06 C$ 53.57
Market Cap C$ 1,012,524,320
Recent Sedar Documents

Globe says Desjardins maintains Ag Growth at "buy"

2023-10-06 07:56 ET - In the News

The Globe and Mail reports in its Friday, Oct. 6, edition that Desjardins Securities analyst Gary Ho has reaffirmed his "buy" recommendation for Ag Growth International. The Globe's David Leeder writes in the Eye On Equities column that Mr. Ho gave his share target a $2 trim to $82. Analysts on average target the shares at $76.85. Mr. Ho says in a note: "We expect strong 2H results from Brazil. Activity has picked up with improving farmer sentiment, strong crop yields and increasing order books, aided by new government financing programs and a stabilizing political backdrop. Ag Growth recently won some commercial projects in Brazil (lumpy). This more than offset some pockets of weakness in Canada due to drier conditions (spotty; some areas have decent crop yields). With better visibility into 4Q, we remain confident in Ag Growth hitting $290-million-plus in EBITDA and an 18-per-cent-plus margin given operational/ efficiency initiatives. ... We view Ag Growth's focus on operational synergies, margin improvement and deleveraging as catalysts, while insights gathered from the Canada Farm Show gave us greater conviction on these initiatives and product transfers, and comfort around the ag backdrop."

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