Mullen Group price target lowered to C$15 from C$18 at CIBC

CIBC lowered the firm’s price target on Mullen Group (MLLGF) to C$15 from C$18 and keeps an Outperformer rating on the shares. Heading into the Q1 earnings season, the firm says it does not expect any major guidance revisions from the Canadian rails or the waste sector. For its industrial/transportation coverage, the firm says the focus will be on tariffs and their implications across the coverage universe, adding that freight trends remained soft in Q1 and focus among those names will be on commentary on pricing and volume trends and expectations for the remainder of 2025.