The Globe and Mail reports in its Tuesday, Feb. 27, edition that Stifel analyst Daryl Young has elevated his recommendation for CCL Industries to "buy" from "hold." The Globe's David Leeder writes that Mr. Young's share target soared ahead by $14 to $79. Analysts on average target the shares at $79.50. Mr. Young says in a note: "Our upgrade comes somewhat sheepishly on the heels of last week's 16-per-cent share price increase alongside Q4/23 results. However, in our view, the marked change in management's tone/commentary that 2024 is shaping up to be the best outlook since 2017/2018 is hard to ignore (particularly given its conservative track record). Demand across effectively all divisions is now poised to inflect from post-COVID troughs (CCL design/electronics, and Innovia were the major laggards), and will be the first time in years that all divisions are contributing simultaneously. Layer-on the significant B/S flexibility and we believe there is a compelling case for 10-per-cent EPS growth. Furthermore, despite the share price move, the stock is still trading toward the low-end of its historical range at 16.1 times P/E, while premium peers are toward their higher-ends, supporting a continued catch-up trade."