Adentra price target lowered to C$49 from C$53 at CIBC

CIBC lowered the firm’s price target on Adentra (HDIUF) to C$49 from C$53 and keeps an Outperformer rating on the shares. The move lower largely reflects a less robust housing outlook for 2025/2026. Heading into 2025, CIBC generally continues to favor the packaging names over wood/building products. With limited signs of renovation spending rebounding this year given stubbornly high mortgage rates, the firm has tempered its demand expectations for wood products in 2025.