20:25:26 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Ag Growth International Inc
Symbol AFN
Shares Issued 18,705,796
Close 2020-05-08 C$ 29.75
Market Cap C$ 556,497,431
Recent Sedar Documents

Globe says Ag Growth Int'l elevated to "outperform"

2020-05-11 07:54 ET - In the News

The Globe and Mail reports in its Saturday, May 9, edition that Raymond James analyst Steve Hansen has boosted Ag Growth International to "outperform" from "market perform." The Globe's David Leeder writes that Mr. Hansen also raised his share target to $36 from $30. Analysts on average target the shares at $33.79. Mr. Hansen says in a note: "While COVID-related risks are expected to linger, several variables/factors have improved our confidence/visibility in AGI's outlook since last month, including: 1) the firm's manufacturing plants are all back in operation (Italy/France/80 per cent. India/75 per cent, Brazil/50 per cent, NA/100 per cent) -- with Brazil expected back to 100 per cent as early as next week; 2) AGI's backlog is reportedly up 9 per cent year-over-year, with broad-based strength; 4) order intake over the past two months is still up 10 per cent, suggesting no discernable demand erosion (as yet); 4) comments suggest the firm's backlog mix is also skewed toward higher-margin verticals; 5) AGI has diligently bolstered its liquidity, initially extending its credit agreement (to 2025 w/ better terms), and more recently expanding it by $100-million, providing more than $300-million in total liquidity."

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