Mercer price target lowered to $5 from $6 at CIBC
CIBC analyst Hamir Patel lowered the firm's price target on Mercer (MERC) to $5 from $6 on lower estimates, while keeping a Neutral rating on the shares. Despite increased uncertainty for global pulp demand given the deteriorating trade relationship between the U.S. and China, the firm notes that Mercer has some of the most modern NBSK pulp mills in the world, assets with growing scarcity value given the large capex requirements facing many Canadian peers, and limited untapped softwood fiber outside of Russia. The company also has a favorable track record of accretive growth and should benefit from a rebound in European lumber/pallet demand in 2026, as well as increased deliveries from its growing mass timber platform, CIBC adds.
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