The Globe and Mail reports in its Thursday, Jan. 18, edition that Scotia Capital analyst Michael Doumet sees a "large disconnect" between the trading multiple for Ag Growth International and his expectations for 2024 and beyond. The Globe's David Leeder writes that Mr. Doumet raised his target for its shares by a loonie to $83, keeping a "sector outperform" recommendation. Analysts on average target the shares at $76.56. Mr. Doumet says in a note: "The market is valuing Ag Growth like a cyclical on the cusp of a profit pullback. Instead, we view Ag Growth as a secular growth story that combines multiyear tailwinds in international markets and unique growth opportunities (i.e., market share expansion and ability to leverage customer relationships globally). As such, while several ag equipment peers are talking down 2024 sales/volumes expectations, we expect Ag Growth to expand EBITDA in 2024 despite doubling EBITDA since 2019. As the sustainability of its profit growth becomes apparent, we expect a meaningful rerate, from a 15-year low to something more reflective of its growth prospects. Multiple expansion should be further aided by its FCF yield (10 per cent) and its further balance sheet deleveraging."