The Globe and Mail reports in its Thursday, Oct. 23, edition that CIBC Capital Markets analyst Hamir Patel has downgraded Stella-Jones to "neutral" from "outperformer." The Globe's David Leeder writes that Mr. Patel continues to target the shares at $89. Analysts on average target the shares at $88.13. Mr. Patel says in a note: "Since mid-January, Stella-Jones has been the best-performing name in our coverage universe, with shares rising 23 per cent, while also outperforming Koppers by 34 per cent and Canadian distributors by 20 per cent. While we suspect positive momentum in Stella-Jones may continue into the upcoming Investor Day on Nov. 20, as the company shares its vision of becoming a multi-material supplier to the utility and railway sectors, we are adopting a more cautious view given potential for increased competition in wood poles (as pricing/mix gains of 55 per cent since 2021 may attract new entrants)." The Globe reported on Aug. 16, 2023, and April 12, 2024, that Mr. Patel rated Stella-Jones "neutral" and then "outperformer." The shares could then be had for $63.81 and $79.60. The Globe reported on Jan. 16, 2025, that Mr. Patel had reaffirmed his "outperformer" call for Stella-Jones. It was then worth $70.22.