CIBC Capital Markets lowered its price target on Stella-Jones (SJ.TO) to C$82 from C$87.
The firm maintained a Neutral rating on shares of the Canadian manufacturer of industrial pressure-treated wood products.
"While SJ has pointed to steady organic tie sales this year for railway ties and low-single-digit average annual growth over 2026-2028, we remain more cautious," Analyst Hamir Patel said in a note to clients. "Based on our channel checks, multiple industry participants described current tie market conditions as among the weakest they have seen in their careers, reinforcing our cautious view."
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