The Globe and Mail reports in its Friday, April 12, edition that CIBC analyst Hamir Patel lowered his estimates for wood products companies further heading into first quarter earnings season, pointing to "weaker-than-expected benchmark prices and lower volume/higher cost assumptions" following recent channel checks. The Globe's David Leeder writes that Mr. Patel has reaffirmed his "outperformer" recommendation for CCL Industries. Mr. Patel boosted his share target by a loonie to $83. Analysts on average target the Class B shares at $80.90. Mr. Patel says in a note: "We believe CCL Industries' diversified global platform and end-market exposure should support steady top-line growth over the cycle. With leverage of only 1.1 times, the company is well positioned to continue to be opportunistic on the M&A front." The Globe reported on Jan. 12 that Mr. Patel called CCL Industries his top pick for the year ahead. In the item, he reiterated his "outperformer" ranking and $72 share target. The shares could then be had for $57.87. The Globe reported on Feb. 27 that Stifel analyst Daryl Young had upgraded his recommendation for or CCL Industries to "buy" from "hold." The shares could then be had for $68.97.