The Globe and Mail reports in its Saturday, Nov. 15, edition that Raymond James analyst Steve Hansen has downgraded Ag Growth International to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Hansen continues to target the shares at $52. Analysts on average target the shares at $51.86. Mr. Hansen says in a note: "We are downgrading our rating on Ag Growth International (AGI) based upon [Thursday's] announcement that the company: 1) has delayed its 3Q25 filings; 2) needs more time to 'finalize the accounting treatment' of its Brazilian operations; 3) is in the process of reviewing its internal controls in Brazil; and 4) given this development, is withdrawing its previously issued FY2025 Adjusted EBITDA guidance. It is very hard to sugar coat this release, in our view. Brazil is an important component of AGI's business mix, representing 15 per cent of total EBITDA, and one of the company's most important growth engines. Until we know more, we have elected to leave our estimates and target unchanged; however, our confidence in these estimates has clearly waned in light of this news. We will continue to monitor."