What's Going On With CCL Industries Shares Today

RBC Capital analyst Walter Spracklin lowered the price target for CCL Industries Inc CCL CCDBF to C$74 from C$80.
The analyst maintained the Outperform rating on the shares.
Spracklin states that 1Q22 results came in above expectations and (in contrast with last quarter) there was no cautionary language around near term trends.
The company indicated that further cost pas through initiatives would complement those already successfully implemented to date, which we believe should be well-received by the market, notes the analyst.
He says the share price today is the key, which exhibits a significant disconnect between the company's strong fundamentals, its clean balance sheet, and the valuation at which the shares trade.
Price Action: CCL.B shares are trading higher by 6.29% at C$60.32 on TSX, and CCDBF is higher by 5.21% at $45.54 on the last check Friday.