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BMO Previews Maple Leaf Foods Q1

Apr 3, 2024 11:51 AM

02:20 PM EDT, 04/03/2024 (MT Newswires) -- In her preview of Maple Leaf Foods' ( MLFNF ) Q1, BMO analyst Tamy Chen notes the pork complex improved to breakeven in February 2024, the first time since September 2023, on better hog prices. Should feed costs in March remain stable (data point to be released later this month), Chen expects the complex to improve further in March.

Raising Q1/24 EPS to $0.17 from $0.14 (Street is $0.12).

"Overall it appears pork commodity trends in Q1/24 are better q/q and some industry participants sound more optimistic on this year vs. 2023," Chen writes.

Maple Leaf Foods ( MLFNF ) is rated Outperform, with a $29 target.

Price: 23.08, Change: +0.66, Percent Change: +2.94

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