The Globe and Mail reports in its Thursday, Nov. 16, edition that Stifel analyst Martin Landry upgraded his recommendation for Premium Brands Holdings to "buy" from "hold." The Globe's David Leeder writes that Mr. Landry gave his share target a $3 trim to $108. Analysts on average target the shares at $119. Mr. Landry says in a note: "We are encouraged by the current profitability trends as it supports management's EBITDA margin target of 10 per cent by 2027. We expect profitability to continue to improve moving forward in part from a shift in mix as growth in the specialty food segment outpace growth in the distribution segment. Additionally, new programs wins should leverage recent capital investments as capacity is filled, leading to strong contribution margins. We forecast EBITDA margins to reach 10 per cent by 2025, up from 9.2 per cent expected in 2023. In its quarterly investor presentation, management showed for the first time a potential for EBITDA margins to reach 12 per cent by 2027. ... Premium Brands' acquisition pace had been muted in the past 12 months, but M&A activity resumed in November with the acquisition of Menu-Mer, a small Quebec based food distributor with annual sales of $27 million."