The Globe and Mail reports in its Tuesday, Aug. 12, edition that National Bank Financial analyst Vishal Shreedhar has reaffirmed his "outperform" recommendation for Saputo. The Globe's David Leeder writes in the Eye On Equities column that Mr. Shreedhar gave his share target a $6 boost to $35. Analysts on average target the shares at $34.56. Saputo had a "strong" first quarter in fiscal 2026, with "solid" growth in earnings before interest, taxes, depreciation and amortization across all operating segments, according to Mr. Shreedhar. He says in a note: "We expect investor focus to be on steady execution amid a volatile commodity and macro backdrop. We acknowledge that Saputo is a show-me story; recent performance has been encouraging, enabling multiple appreciation." On Friday Saputo reported quarterly earnings per share of 44 cents, rising five cents from the same period a year ago and exceeding both Mr. Shreedhar's 39-cent estimate and the consensus expectation of 38 cents. Saputo also raised its quarterly dividend by a penny to 20 cents per share. Mr. Shreedhar says in a note, "USA results reflect benefits from improvement initiatives; Green Bay to close in December, which will improve conversion costs."