The Globe and Mail reports in its Friday, Oct. 17, edition that Scotia Capital analyst Jonathan Goldman continues to rate Stella-Jones "sector perform." The Globe's David Leeder writes in the Eye On Equities column that Mr. Goldman gave his share target a $7 boost to $88. Analysts on average target the shares at $88.13. Mr. Goldman says in a note: "Poles guidance seems mostly realistic; risk to Ties. In Poles, organic revenue guidance calls for LSD [low single digits] for the balance of the year on a flat comp. The company reported a decline of 2.5-per-cent organic in H1 on a 12-per-cent comp. While we believe Utes are still dragging their feet on capex programs, the guide seems like a low bar. In Ties, guidance calls for LSD decline. That implies plus 10 per cent in H2 on a negative 1-per-cent comp while backfilling lost Class one volumes is lumpy. Margins seems reasonable as Pole PPI deflation decelerated in Q3." The Globe reported on Jan. 30 that Mr. Goldman had reaffirmed his "sector perform" call for Stella-Jones when it could be had for $79.78. The Globe reported on Oct. 10 that National Bank Financial analyst Maxim Sytchev had reaffirmed his "outperform" call for Stella-Jones when it was worth $81.27.
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