The Globe and Mail reports in its Tuesday, April 12, edition that Canaccord Genuity analyst Yuri Lynk has reaffirmed his "buy" recommendation for Hardwoods Distribution. The Globe's David Leeder writes that Mr. Lynk, however, slashed his share target to $60 from $73. Analysts on average target the shares at $69.08. Mr. Lynk says Hardwoods is "an especially cheap stock in a cheap sector." Mr. Lynk sees Hardwoods continuing to benefit from "strong" housing repair and remodel spending as well as rising hardwood lumber prices in the near term. Mr. Lynk says Hardwoods is "well positioned to outperform the industry" following the recent acquisitions of Mid-Am Building Supply and Novo Building Products Holdings, which he projects to add nearly $1-billion (U.S.) sales. Mr. Lynk says in a note: "Hardwoods shares have dropped 23 per cent year-to-date, in sympathy with the 29-per-cent and 23-per-cent year-to-date declines in the broader S&P Home Builders and S&P Building Products Indices. These declines have the residential build products distributors trading near multiyear lows on a P/E [price-to-earnings] basis. ... We continue to see several long-term secular drivers of home construction and renovation."