The Globe and Mail reports in its Tuesday, Jan. 23, edition that CIBC World Markets analyst Hamir Patel, after reducing his earnings expectations for Richelieu Hardware's fiscal 2024 and 2025, lowered his share target to $46 from $49. The Globe's David Leeder writes in the Eye On Equities column that Mr. Patel continues to rank Richelieu Hardware "neutral." Analysts on average target the shares at $45.75. Mr. Patel says in a note, "While excess inventories are likely to weigh on margins for another two quarters, we believe Richelieu Hardware is well-positioned to execute on an attractive M&A pipeline and deliver continued market share gains (supported by recent site modernization investments)." The Globe reported on June 6, 2023, that Mr. Patel had lowered his recommendation for Richelieu Hardware to "neutral" from "outperformer." The shares could then be had for $41.98. The Globe reported on Oct. 6, 2023, and Jan. 19, 2024, that National Bank analyst Zachary Evershed rated Richelieu "outperform" and "sector perform." The shares could then be had for $40.87 and $42.72.