CIBC Capital Markets lowered its price target on Richelieu Hardware (RCH.TO) to C$39 from C$42.
Analyst Hamir Patel maintained a Neutral rating on shares of the Canadian specialty hardware company.
"Although a weak housing backdrop will likely constrain margin improvement over the near-term, RCH's strong execution and innovative products (with recent M&A in acoustics) position the company well to achieve above-market growth over the medium to long-term," Patel said in a note to clients.
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