The Globe and Mail reports in its Tuesday, April 23, edition that National Bank Financial analyst Vishal Shreedhar rates Maple Leaf Foods "outperform" in new coverage. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shreedhar set a share target of $29. Analysts on average target the shares at $30.50. Mr. Shreedhar believes that Maple Leaf Foods has significant upside potential, but warns that the path to success could be volatile. He refers to Maple Leaf as a "show-me stock" which will require several quarters of sustained strong execution to inspire investor confidence. Mr. Shreedhar says in a note: "We consider Maple Leaf to be a company with meaningful turnaround potential. MFI currently generates an adjusted EBITDA margin in its meat protein group that is below target due to a challenged pork market, a weak consumer backdrop and remaining anticipated benefits from facility improvements, amongst other factors. The company expects to achieve its target once pork market conditions normalize and benefits from its investments fully materialize, in addition to other factors. If MFI is able to achieve the low end of its target by 2025, we estimate over 10-per-cent upside to our 2025 EPS."