The Globe and Mail reports in its Thursday, May 25, edition that National Bank Financial analyst Maxim Sytchev continues to rate Stella-Jones "sector perform," with a $64 share target. The Globe's David Leeder writes that analysts on average target the shares at $69.57. Mr. Sytchev says further upside for Stella-Jones will "likely be dictated by investor confidence in the sustainability of poles pricing." Mr. Sytchev says record utility pole pricing has "accelerated" the company's sales and earnings growth, leading him to suggest 2022 to 2024 guidance is now "too conservative." Mr. Sytchev says in a note: "As IIJA funding in the U.S. has helped fund pole demand by telecommunications and utilities firms seeking to expand and strengthen their networks, Stella-Jones has been able to take advantage of rising prices, helping push Q1 results to a material beat (pole sales were up 29 per cent year-over-year organically on pricing strength), especially on the bottom line. As a result, consensus NTM [next 12-month] EBITDA has increased 12 per cent since the start of the year to $494-million while Stella-Jones shares are up 24 per cent year-to-date." The Globe says Mr. Sytchev is bearish on Stella-Jones in the near term.