Shares of Stella-Jones Inc. (TSE:SJ) have received a consensus rating of “Moderate Buy” from six brokerages currently covering the company, according to data from Marketbeat Ratings. This rating reflects a balanced outlook, with three analysts recommending a hold and three advocating for a buy.
The average target price set by analysts over the past year stands at approximately C$90.17. Several research firms have recently shared their insights on the stock, influencing market perceptions and investor decisions.
CIBC has revised its stance on Stella-Jones, downgrading the stock from an “outperform” rating to a “neutral” rating, with a new price target of C$89.00. This change was reported on October 8, 2023.
A contrasting view comes from the Royal Bank of Canada, which increased its target price from C$78.00 to C$87.00, while maintaining a “sector perform” rating. This adjustment also occurred on October 8.
On October 9, 2023, National Bankshares raised its target to C$95.00, affirming an “outperform” rating for Stella-Jones. Meanwhile, CIBC World Markets downgraded the stock from a “strong-buy” to a “hold” rating on October 10.
Finally, Scotiabank has increased its target price from C$81.00 to C$88.00 in a report dated October 17, 2023. These differing evaluations reflect the varied perspectives among analysts regarding the company’s future performance.
Overview of Stella-Jones Inc.
Stella-Jones Inc. specializes in the production and sale of lumber and wood products. The company operates primarily through two segments: Pressure-treated wood, which includes products like utility poles, railway ties, and residential lumber; and the Logs & Lumber segment, which consists of logs deemed unsuitable for utility poles as well as excess lumber sold to local home-building markets.
Investors and stakeholders are likely to closely monitor these developments as they assess the company’s market position and future prospects. With multiple firms weighing in on Stella-Jones, the financial community continues to evaluate the implications of these ratings and price adjustments.
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