The Globe and Mail reports in its Thursday, May 1, edition that Raymond James analyst Daryl Swetlishoff reduced his commodity price deck and forecasts for stocks in the industry, emphasizing "Canadian forest products companies have been under siege" from the global trade war. The Globe's David Leeder writes that Mr. Swetlishoff has reaffirmed his "market perform" call for Western Forest Products. Mr. Swetlishoff lowered his share target to 40 cents from 50 cents. Analysts on average target the shares at 56 cents. Mr. Swetlishoff says in a note: "We estimate earnings impacts under an admittedly highly improbable worst-case scenario, i.e., 60 per cent total duties/tariffs with no loss mitigation (e.g., curtailments) nor commodity price offsets. Even under this unreasonably bearish scenario, we highlight only 12 to 18 per cent impacts to our 2025 earnings estimates for the geographically diversified players Canfor, Interfor, and West Fraser. ... Extending the analysis to 2026 yields 15- to 25-per-cent downside to published estimates. Historically, trade constraints have resulted in higher U.S. lumber prices with U.S. consumers estimated to bear 50 to 75 per cent of the incremental cost of duties/tariffs."