The Globe and Mail reports in its Tuesday edition that BMO analyst Peter Sklar cut Recipe Unlimited to "market perform" from "outperform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Sklar reiterated his $29 share target. Analysts on average target the shares at $30.40. Mr. Sklar says in a note: "With heightened competition and deep discounting amongst its peers, we believe it could be challenging for Recipe to generate strong comps, manage cost pressures in the absence of menu board price increases, and meaningfully grow earnings. We understand Recipe is investing in renovations, technology, menu innovation, and improved quality of service; however, we note that these initiatives are longer term in nature and unlikely to have a notable impact on performance over our forecast horizon." The Globe reported on March 13, 2018, that Mr. Sklar upgraded the shares to "outperform" from "market perform." The shares could then be had for $26.99. The Globe reported on Nov. 13, 2018, that Genuity analyst Derek Dley cut Recipe to "hold" from "buy." The shares could then be had for $25.66. The Globe reported on April 9, 2019, that Canaccord hiked Recipe to "buy" from "hold." It was then worth $26.25.
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