Scotiabank Downgrades Maple Leaf Foods Inc (MFI) to Sector Perform

Maple Leaf Foods Inc (TSE:MFI) was downgraded by equities researchers at Scotiabank from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Friday. They presently have a C$37.50 price target on the stock. Scotiabank’s price target would indicate a potential upside of 8.98% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets raised their price target on shares of Maple Leaf Foods from C$36.00 to C$37.00 and gave the stock a “market perform” rating in a report on Sunday, July 30th. TD Securities raised their price target on shares of Maple Leaf Foods from C$39.00 to C$41.00 and gave the stock a “buy” rating in a report on Friday, July 28th.

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In other news, insider Rory A. Mcalpine sold 9,100 shares of Maple Leaf Foods stock in a transaction dated Friday, August 11th. The shares were sold at an average price of C$34.04, for a total transaction of C$309,764.00. Also, insider Rocco Cappuccitti sold 8,600 shares of Maple Leaf Foods stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of C$34.37, for a total transaction of C$295,582.00. Insiders have sold 45,000 shares of company stock valued at $1,559,790 over the last quarter.

Maple Leaf Foods Company Profile

Maple Leaf Foods Inc is a Canada-based consumer protein company that processes and produces value-added prepared meats, lunch kits snacks, and value-added fresh pork and poultry products sold under flagship Canadian brands such as Maple Leaf, Maple Leaf Prime, Maple Leaf Natural Selections, Schneiders, Schneiders Country Naturals, Mina and Devour.

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