Rogers Sugar Inc. (RSI.TO) was downgraded to Hold from Buy at TD Securities on Friday.

Analyst Michael Van Aelst maintained a price target of $7 on shares of the holding company of Lantic, the largest refined sugar distributor in Canada, following its Q4 results.

"Outlook remains relatively healthy, with stable domestic sugar demand (tariff volatility and shrink-flation offsetting new sugar-containing product facilities), rising international maple syrup demand, and modestly expanding margins," Van Aelst said in a note to clients.

"Still, downgrading on price appreciation, slightly lower earnings outlook (lower sugar export volumes), and another 6 month delay in commissioning new sugar capacity," the analyst said.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)