The Globe and Mail reports in its Tuesday, April 15, edition that National Bank Financial analyst Zachary Evershed continues to rate Richelieu Hardware "sector perform." The Globe's David Leeder writes that Mr. Evershed gave his share target a $7 trim to $37.50. Analysts on average target the shares at $37.75. Mr. Evershed argues geopolitical uncertainty has clouded Richelieu Hardware's "path to margin recovery." Mr. Evershed says in a note: "Management noted that less than 20 per cent of its products imported to the U.S. come from China, and the company's tariff mitigation strategy focuses on substituting products within the existing SKU portfolio, as expected. The company has flexibility within its 35,000 SKU portfolio to substitute products from countries from which it already sources, such as Italy, Austria, Germany, or even domestic U.S. suppliers. With the rapidly changing tariff landscape, management remains cautiously optimistic for a relatively quick resolution to U.S.-China tensions. If an agreement is not reached soon, however, Richelieu plans to replace import volumes with new additions from e.g., Turkey and Southeast Europe. ... Management continues to drive the M&A program forward."