The Globe and Mail reports in its Tuesday, Oct. 31, edition that CIBC World Markets analyst Hamir Patel has reaffirmed his "outperformer" recommendation for Winpak. The Globe's David Leeder writes in the Eye On Equities column that Mr. Patel trimmed his share target back by $3 to $47. Analysts on average target the shares at $51.75. Mr. Patel says in a note: "Our reduced valuation reflects increased pricing risks (given excess near-term industry capacity), as well as a lack of visibility on the company's new business order book (needed to fill Winpak's planned capacity growth). We continue to view Winpak as a defensive name (approximately 90 per cent of sales tied to food/beverage packaging), with strong margin visibility, above-market organic growth prospects and an improving M&A pipeline (with less PE competition in the current environment). Winpak is trading at only 5.3 times 2024 estimated EV/EBITDA, a discount to its five-year average forward multiple of 8.3 times." The Globe's regular guest columnist Gordon Pape recommended buying Winpak on Dec. 14, 2022. The shares could then be had for $42.09.