The Globe and Mail reports in its Wednesday, March 6, edition that National Bank Financial analyst Zachary Evershed is sticking with his "sector perform" recommendation and $6 share target for Rogers Sugar. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $6.06. Rogers Sugar recently completed a $117.9-million bought deal public offering. As a result, Mr. Evershed sees Rogers Sugar's valuation as "seemingly full as the company embarks on a capex cycle with a payoff in 2026." Mr. Evershed says in a note: "The net proceeds of the offering will be used to fund a portion of the Eastern Canada expansion project undertaken by the company's wholly owned operating subsidiary Lantic. The equity funding tops up the loans from Investissement Quebec to Lantic for up to $65-million and the $175-million available under the company's credit facility as at FQ1, leaving a comfortable cushion above the expected $200-million total investment for the project. The investments will see Lantic's Montreal facility's capacity rise by 20 per cent once the project is complete and improve logistical infrastructure in Montreal." Mr. Evershed says he is awaiting "a better entry point."