Richelieu Hardware price target lowered to C$42 from C$43 at CIBC

CIBC lowered the firm’s price target on Richelieu Hardware (RHUHF) to C$42 from C$43 and keeps a Neutral rating on the shares. The move 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.