Canfor Co. (TSE:CFP) Receives C$21.33 Average Price Target from Analysts

Canfor Co. (TSE:CFP) has been given a consensus recommendation of “Buy” by the six brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is C$21.33.

A number of analysts have recently commented on CFP shares. BMO Capital Markets cut their price objective 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. Scotiabank cut their price target on shares of Canfor from C$20.00 to C$19.00 and set a “sector perform” rating for the company in a report on Tuesday, July 30th. CIBC increased their price objective on shares of Canfor from C$20.00 to C$21.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. TD Securities cut their target price on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Finally, Raymond James upgraded shares of Canfor from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd.

Canfor Price Performance

Shares of TSE CFP opened at C$17.03 on Friday. 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$16.26 and its 200-day simple moving average is C$15.30. Canfor has a 12 month low of C$13.53 and a 12 month high of C$19.30. The stock has a market capitalization of C$2.02 billion, a price-to-earnings ratio of -5.05 and a beta of 2.08.

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.