Scotia Capital Has Sector Perform on SunOpta
Scotia Capital is out with a research report on SunOpta Inc. (NASDAQ: STKL) and it has a Sector Perform rating and a $6 price target on shares.
In a note to clients, Scotia Capital writes, "Modesto expansion. STKL plans to add processing equipment, which is expected to facilitate the production of multiple beverages simultaneously and increase capacity by 40%. We assume the upgrade (expected to come online in Q3/12) will cost $5M and can contribute annual EBITDA of $1.5M given typical returns on internal projects."
Shares of STKL are down 13 cents to $4.80 in early Monday trading.
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