CCL Industries (CCL.B) Hits New 52-Week Low on Analyst Downgrade

CCL Industries Inc. (TSE:CCL.B) hit a new 52-week low on Wednesday after CIBC lowered their price target on the stock from C$72.00 to C$63.00. The stock traded as low as C$52.12 and last traded at C$53.51, with a volume of 1106502 shares trading hands. The stock had previously closed at C$56.81.

Several other equities research analysts also recently weighed in on CCL.B. Royal Bank of Canada set a C$73.00 target price on shares of CCL Industries and gave the company an “outperform” rating in a research note on Saturday, July 14th. TD Securities reduced their price target on shares of CCL Industries from C$70.00 to C$64.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Laurentian reduced their price target on shares of CCL Industries from C$74.00 to C$71.00 in a research note on Thursday.

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About CCL Industries (TSE:CCL.B)

CCL Industries Inc is involved in manufacture of labels, containers, consumer printable media products and inventory management and loss prevention solutions. It operates through four segments: Label, Avery, Checkpoint and Container. The Label segment includes production of pressure sensitive and extruded film materials for a range of decorative, instructional and functional applications for customers in the consumer packaging, healthcare, automotive and consumer durables markets.

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