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- Stella-Jones Inc SJ STLJF price target has been lowered to C$40 from C$43 by RBC Capital analyst Walter Spracklin.
- The analyst maintained the Sector Perform rating on the shares.
- Spracklin stated that SJ started the year strong, with Q1 results ahead of expectations and a better than expected top-line across all segments.
- However, the company did not increase its 2022 or 3-year targets, Spracklin added.
- The analyst claims that the general market uncertainty has created a higher overall equity risk premium, and he has moderated the target multiple accordingly.
- Spracklin sees SJ as a solid (less-cyclical) company with attractive underlying trends.
- Price Action: SJ shares are trading lower by 0.67% at C$34.27 on TSX on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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