The Globe and Mail reports in its Tuesday edition that BMO Capital's Tamy Chen has reaffirmed her "outperform" recommendation for Maple Leaf Foods. The Globe's David Leeder writes that Ms. Chen lowered her share target by $2 to $31. Analysts on average target the shares at $35.67. Ms. Chen says in a note: "We would be buyers on the stock's weakness following Q3/23 results. Management's commentary was cautious on commodities during the earnings call. Our tracking of the relevant commodity factors so far in Q4/23 does not suggest that level of month-over-month deterioration and Maple Leaf Foods subsequently clarified the business is not seeing that either. Our outlook is unchanged. We view the current risk/reward compelling. Assuming a volatile commodity environment until Q2/24 and lower gains from the new facilities than management's targets still yield an undemanding valuation of eight times 2024 estimated EBITDA vs. historical eight to 10 times." The Globe reported on Aug. 4 that Ms. Chen had upgraded Maple Leaf Foods to "outperform" from "market perform." It was then worth $31.20. The Globe reported on Sept. 7 that Ms. Chen had reiterated her "outperform" call when the shares could be had for $28.31.