BMO Capital Markets analysts have downgraded their rating on Canada's High Liner Foods, citing concerns about inflationary pressures, the global container shipping crisis and lockdowns in China.

Worried these factors are creating downside to margins over 2022, BMO analysts are downgrading High Liner Foods to "Market Perform."

Six months ago, BMO upgraded High Liner shares to "Outperform" on an improving organic sales volume trend and a discounted valuation relative to the sector.