RBC Capital Cuts Stella-Jones Price Target By 7%

• Stella-Jones Inc (TSX:SJ) (OTC: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.