The Globe and Mail reports in its Friday, Feb. 6, edition that National Bank analyst Ahmed Abdullah has reaffirmed his "outperform" recommendation for CCL Industries. The Globe's David Leeder writes that Mr. Abdullah hiked his share target to $100 from $97. Analysts on average target the shares at $95.55. Mr. Abdullah says in a note: "We adjusted our forecast in 2026 to include the latest M&A purchase for CCL design of ALT Technologies. The purchase is expected to close in 2Q26, we assumed a closing date of April 1. ALT should contribute at least $67-million of annual sales with an estimated 11-per-cent Adj. EBITDA margin pre-synergies. Additionally, global consumer packaged goods (CPG) customers have mostly indicated a focus on driving volume growth in their 2026 guidance commentaries. We think that bodes well for CCL as CPG marketing campaigns get revamped and accelerate label replacement cycles. We tweaked our forecasts higher to reflect that. We see leverage at 0.83 times in 4QE. Private equity roll-ups in the label space have faced considerable financial woes with notable restructurings unfolding. This presents a more favorable M&A landscape for CCL as transaction multiples face less upward pressure."