The Globe and Mail reports in its Thursday, Oct. 16, edition that following a recent surge, Stifel analyst Martin Landry downgraded Guru Organic Energy from "buy" to "hold." The Globe's David Leeder writes in the Eye On Equities column that Mr. Landry gave his share target a 50-cent boost to $4.50. Analysts on average target the shares at $3.50. Mr. Landry says in a note: "Guru Organic Energy's shares currently trade at nearly five times forward sales, a premium multiple typically reserved for companies with rapid growth rates. While Guru Organic's outlook is promising, with accelerating sales driven by new product launches and improved control over customer relationships and marketing strategies, we do not expect sales to grow at a rate exceeding 20 per cent year-over-year on a comparable basis. In our view, such growth would be necessary to justify a forward sales multiple above four times. Notably, Guru Organic's shares last traded above four times forward sales in August, 2022, when we were forecasting 40 per cent year-over-year revenue growth."