Raymond James upgraded shares of Canfor (TSE:CFP – Free Report) from an outperform rating to a strong-buy rating in a report released on Tuesday morning, Marketbeat reports. They currently have C$28.00 target price on the stock, up from their prior target price of C$20.00. Raymond James also issued estimates for Canfor’s FY2024 earnings at ($3.57) EPS, FY2025 earnings at ($0.59) EPS and FY2026 earnings at $1.68 EPS.
A number of other equities analysts have also recently issued reports on the company. BMO Capital Markets lowered their target price on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating for the company in a report on Tuesday, July 23rd. Scotiabank cut their target price on shares of Canfor from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 30th. TD Securities dropped their price target on shares of Canfor from C$20.00 to C$19.00 in a research note on Tuesday, July 23rd. Royal Bank of Canada boosted their price objective on shares of Canfor from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, CIBC raised their target price on Canfor from C$17.00 to C$19.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Canfor currently has an average rating of “Buy” and an average target price of C$20.67.
View Our Latest Analysis on Canfor
Canfor Trading Up 3.3 %
Canfor (TSE:CFP – Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The company reported C($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.17) by C($1.25). Canfor had a negative return on equity of 9.65% and a negative net margin of 7.39%. The company had revenue of C$1.38 billion for the quarter, compared to analyst estimates of C$1.42 billion. Analysts predict that Canfor will post 0.4005401 EPS for the current fiscal year.
About Canfor
Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.
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