The Globe and Mail reports in its Friday, March 1, edition that CIBC World Markets analyst Hamir Patel has downgraded Winpak to "neutral" from "outperformer." The Globe's David Leeder writes in the Eye On Equities column that Mr. Patel lowered his share target to $45, down from $48. Analysts on average target the shares at $46.67. Mr. Patel says in a note: "Following the Q4 miss and tepid 2024 guide (which seems to suggest no EBITDA growth this year), we expect the shares to be range-bound pending greater visibility on the sales ramp-up of Winpak's increased capacity coming online over 2024-2026. While we see higher returns among some of our other packaging names under coverage, we note that Winpak is trading at only 6.9 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. The Globe reported on Oct. 31, 2023, that Mr. Patel had reaffirmed his "outperformer" recommendation for Winpak. The shares could then be had for $37.76.