CIBC raised the firm’s price target on CCL Industries (CCDBF) to C$97 from C$96 and keeps an Outperformer rating on the shares. The move higher largely reflects the firm’s weaker Canadian dollar forecast. 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.
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