Skip to main content

Utility pole maker Stella-Jones Inc. is fractionally lower on Tuesday after RBC started coverage with a "sector perform" rating and $46 price target. The shares are "fairly valued" and already reflect an expected "tuck-under acquisition in the near-term," predicts analyst Sara O'Brien. And she isn't buying the Street's consensus and instead is forecasting flat per-share profit in the third quarter, with second-half results impacted by the lumber strike in British Columbia and a weaker U.S. greenback. "Should results come in line with our estimates, we expect a stock pullback to provide a more attractive entry point for investors," she writes. The stock has eased 9 cents to $44 on the TSX Tuesday.

Report an error
Comments

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨