The Globe and Mail reports in its Wednesday, Aug. 16, edition that CIBC Capital Markets analyst Hamir Patel continues to rate Stella-Jones "neutral." The Globe's David Leeder writes in the Eye On Equities column that Mr. Patel gave his share target a $3 boost to $72. Analysts on average target the shares at $77. Mr. Patel says in a note: "With the shares trading close to their all-time highs, we recently reduced our rating on Stella-Jones to 'neutral.' While Stella-Jones may benefit from potential for a near-term tuck-in acquisition in ties, the story is looking increasingly catalyst-lite in our view, with estimates already reflecting robust pole demand growth through 2024, and limited prospects for material earnings growth in ties and res lumber from current levels. We estimate remaining M&A prospects in poles/ties have revenues only totaling $150-million (U.S.) (approximately 6 per cent of 2023 sales), a pipeline that will likely be spread over the next few years." The Globe reported on March 13 and July 21 that Mr. Patel rated Stella-Jones "outperformer." It was then worth $53.48 and $68.07.