The Globe and Mail reports in its Friday, Nov. 28, edition that TD Cowen's Michael Van Aelst is keeping his "buy" recommendation for Saputo intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Van Aelst gave his share target a $5 boost to a Street-high $49. Analysts on average target the shares at $39.80. Mr. Van Aelst says in a note: "After several disruptive years (COVID, labour shortages, GSP ramp-up) improving execution is now evident. Capacity expansion and better order fill rates (back to traditional high standards) are driving volume growth and enabling price discipline. Mix is being optimized and Saputo is making the tough decisions to control costs (plant rationalization, SG&A reduction, structural simplification) to offset inflationary pressures (e.g., labour) and greater brand support (ad and promos). We see this driving 21-per-cent EBITDA growth in H2/F26 and 11 per cent/7 per cent in F27/F28. Valuation (now 9.6 times our C2026E EBITDA) has moved up materially from its 7.4 times Jan. 2025, low, but is still below its 11.2 times 10-year average and the peer average of 11.1 times. ... Despite a superior earnings outlook, Saputo trades at a meaningful discount to many CPG peers."