The Globe and Mail reports in its Friday, Sept. 8, edition that BMO Capital Markets analyst Stephen MacLeod has reiterated his "market perform" recommendation for Transcontinental. The Globe's David Leeder writes in the Eye On Equities column that Mr. MacLeod cut his share target back by $2 to $15. Analysts on average target the shares at $18. Mr. MacLeod says in a note: "Adjusted earnings before interest, taxes, depreciation and amortization growth in packaging (below forecast) and media and other (above forecast) were more than offset by a decline in printing (below forecast). 2023E packaging outlook for EBITDA growth unchanged, offset by an expected decline in printing. We see opportunity for a valuation rerating over time, but Transcontinental's tilt toward growth would need to be accompanied by sustained ROIC improvement." The Globe reported on May 3, 2022, Oct. 21, 2022, and June 9, 2023, that RBC Capital Markets analyst Drew McReynolds rated Transcontinental "outperform," when it was worth $16.12, $16.20 and $14.90.