The Globe and Mail reports in its Wednesday, June 25, edition that TD Cowen analyst Michael Tupholme has reaffirmed his "buy" recommendation for Ag Growth International. The Globe's David Leeder writes in the Eye On Equities column that Mr. Tupholme gave his share target a $6 boost to $55. Analysts on average target the shares at $49.63. Mr. Tupholme says in a note: "Ag Growth International has a favourable medium to long-term growth outlook. The commercial segment is growing strongly, while the farm segment is poised to see meaningful upside as the agriculture cycle turns more positive. Ag Growth International has structurally improved its across-the-cycle margins, and a recovery in higher-margin farm will further support profitability. Ag Growth International's valuation is attractive vs. historical levels and peers." The Globe reported on Nov. 15 and March 11 that Mr. Tupholme was keeping his "buy" on Ag Growth intact. The shares could then be had for $50.45 and $36.79. The Globe reported on June 20 that ATB Capital Markets analyst Tim Monachello had reaffirmed his "sector perform" recommendation for Ag Growth. The shares were then going for $41.08.
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