02:04 PM EST, 11/04/2024 (MT Newswires) -- National Bank has cut its target on Premium Brands Holdings ( PRBZF ) by $10, to $99, and reiterated its Sector Perform, ahead of the company's third quarter results, due November 6.

Analyst Vishal Shreedhar believes the backdrop for Premium Brands ( PRBZF ) is more challenging than his earlier understanding. "Specifically, we expect challenges in the QSR sector and delays in the retail sector within Specialty Foods (SF)." These may push back growth and result in a downward revision to 2024 guidance., Shreedhar added.

Beyond this quarter, National Bank expects growth to accelerate through 2025, primarily reflecting product launches and easier compares y/y, among other factors.

Price: 85.15, Change: -1.18, Percent Change: -1.37