Stifel Canada on Friday maintained its buy rating on the shares of CCL Industries (CCL-B.TO) and its C$103.00 price target following the company's fourth-quarter results.

"Overall, Q4/25 was a relatively solid finish to a strong year, with headline EBITDA in line. However, EPS did miss by ~5% reflecting year-end tax adjustments (first look). Looking forward, management provided a stable/constructive outlook for 2026, albeit with a slower start expected for the CCL Segment which has been impacted by inclement winter weather in the U.S. (freight disruptions). Management acknowledged that the broader CPG environment remains weak, but that it has been outperforming, partially due to market share wins from over-levered private-equity backed peers. We expect share gains to continue near-term as CPG customers focus on security of supply. However, perhaps most interesting was management's confirmation that M&A valuations are finally normalizing. CCL has been actively returning capital, including a 12.5% dividend bump and new automatic share repurchase plan for 2026, but a return to M&A has been the missing ingredient to really move its shares," analyst Daryl Young wrote.

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)

Price: 91.15, Change: +2.36, Percent Change: +2.66