Canfor (TSE:CFP) Price Target Raised to C$21.00

Canfor (TSE:CFP) had its price target raised by CIBC from C$20.00 to C$21.00 in a research report released on Tuesday, BayStreet.CA reports. They currently have an outperform rating on the stock.

CFP has been the topic of several other research reports. Raymond James raised shares of Canfor from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from C$20.00 to C$28.00 in a report on Tuesday, October 22nd. Scotiabank lowered their price target on 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 cut their price objective on Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Tuesday. Royal Bank of Canada increased their price objective on Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Finally, BMO Capital Markets dropped their target price on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating for the company in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$21.33.

Canfor Trading Down 0.8 %

Shares of CFP opened at C$16.61 on Tuesday. Canfor has a 1-year low of C$13.53 and a 1-year high of C$19.30. The company has a market capitalization of C$1.97 billion, a P/E ratio of -4.93 and a beta of 2.08. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14. The firm’s 50 day simple moving average is C$16.01 and its 200 day simple moving average is C$15.23.

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.