Stifel Canada has raised its price target on the shares of Maple Leaf Foods (MFI.TO) by $1.00 to $36.00 after the company reported "good" first quarter results and reiterated its 2026 guidance "which reassures investors".
In a note, analyst Martin Landry, who is maintaining a buy rating on the company, noted that Maple Leaf reported a gross margin of 18.7%, the highest level in two years, as the company benefits from improved operating efficiencies stemming from asset optimization.
While Maple Leaf shares had traded down in the weeks leading to the results as investors expressed skepticism on its ability to pass on fuel surcharges to customers, management had a confident tone during the earnings call, which, combined with the 2026 guidance being unchanged, suggests an ability to pass on higher costs, Landry writes.
Price: $29.67, Change: $-1.29, Percent Change: -4.17%