The Globe and Mail reports in its Friday edition that Raymond James analyst Steve Hansen has upgraded Ag Growth International to "outperform" from "market perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Hansen continues to target the shares at $64. Analysts on average target the shares at $77.11. Before the bell on Wednesday, Ag Growth posted adjusted earnings before interest, taxes, depreciation and amortization of $84.5-million, up 11 per cent year-over-year and above both Mr. Hansen's $80-million estimate and the consensus projection of $83.2-million. He attributed the beat to better-than-anticipated sales, up 2 per cent year-over-year, and margins, rising 1.64 per cent to 20.6 per cent. Mr. Hansen says in a note: "We are upgrading our rating on Ag Growth International based upon: 1) rapidly improving demand fundamentals in Brazil; 2) incremental evidence that North American growers are returning to the table for permanent storage; and 3) the recent retreat in AGI's share price that introduces a more attractive risk-adjusted entry point, in our view." The Globe reported on July 19 that Mr. Hansen had cut Ag Growth to "market perform" from "outperform." It was then worth $52.93.