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CIBC maintains CCL Industries at outperformer and cuts target C$1 to C$72 on modestly lower estimates; CCL’s diversified platform and end-market exposure should support steady top-line growth over the cycle, with organic growth of 1.9% projected in 2023

The Globe and Mail reports that Scotia Capital Analyst Mark Neville has reiterated his 'sector outperform' recommendation for CCL Industries, cuts his share target back by C$3 to C$75; Analysts on average target the Class B shares at C$77.20

CCL Industries records Q3 2022 net earnings up 6.9% to US$163.9M from US$153.3M in Q3 2021, while sales increase 11.4% year-over-year to US$1.66B from US$1.49B in Q3 2021; net earnings for nine months ending Sept. 30, up year-over-year to US$477.5M

CCL Industries to release Q3 results Nov. 9

Moody's affirms CCL Industries' Baa2 rating with outlook stable, reflecting its large scale, product diversity and strong market positions, which supports Moody's expectation of stable credit metrics and strong cash flow generation over next 12-18 months

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