CIBC lowered the firm’s price target on Adentra (HDIUF) to C$49 from C$53 and keeps an Outperformer rating on the shares. The move lower 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.
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