The Globe and Mail reports in its Wednesday, April 23, edition that RBC Dominion Securities analyst Matthew McKellar thinks the macro outlook for North American paper and forest products companies has become "significantly more clouded" since the start of the year "with tariffs and trade and the implications for growth and inflation squarely in the spotlight over the last couple of months." The Globe's David Leeder writes in the Eye On Equities column that Mr. McKellar gave his West Fraser Timber share target an $18 (U.S.) trim to $99 (U.S.). Analysts on average target the shares at $110.61 (U.S.). Mr. McKellar continues to rate West Fraser "outperform." Mr. McKellar says in a note: "We expect that the trajectory of demand could be at least as important as the direct implications of any tariffs for much of our coverage group. However, despite the shifting macro outlook and what we expect could be a dynamic trade backdrop for some time, our preferred ways to play the paper and forest products space remain relatively consistent; we continue to see opportunities where supply rationalization/discipline has been supportive of relatively tighter conditions (e.g., lumber, containerboard) and valuations are reasonable."