The Globe and Mail reports in its Wednesday, Feb. 14, edition that Scotia Capital analyst Maher Yaghi has assumed coverage of Transcontinental with a "sector outperform" rating. The Globe's David Leeder writes that Mr. Yaghi set a share target of $19.50. Analysts on average target the shares at $18. Mr. Yaghi calls the stock "cheap." He says in a note: "Transcontinental is a Canada-based printing, packaging, and media services provider. The company has been redeploying capital from its very profitable cash-generating legacy printing business into expanding its packaging business through targeted acquisitions. We believe 2024 could be a turnaround year for Transcontinental as reduced earnings volatility and improved margins start to take hold as a result of management's actions that started last year. We think current valuations are very depressed. We see the packaging business as having good upside potential, and while we do not expect any large acquisitions in the near term, we do expect mergers and acquisitions (M&A) to act as a growth vector from 2025 onward." The Globe reported on Dec. 15 that RBC's Drew McReynolds had reaffirmed his "outperform" call for Transcontinental. It was then worth $12.88.