Mercer price target lowered to $6 from $7 at CIBC

CIBC lowered the firm’s price target on Mercer (MERC) to $6 from $7 and keeps a Neutral rating on the shares. Heading into Q1 earnings season, the firm continues to favor the plastic packaging names over wood and building products. Elevated rates are likely to continue weighing on demand and Canadian lumber companies face escalating costs later this year, the analyst tells investors in a research note.