Royal Bank of Canada Cuts Canfor (TSE:CFP) Price Target to C$19.00

Canfor (TSE:CFP) had its target price cut by Royal Bank of Canada from C$21.00 to C$19.00 in a research report released on Friday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

A number of other analysts have also commented on the stock. Raymond James raised shares of Canfor from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from C$20.00 to C$28.00 in a report on Tuesday, October 22nd. TD Securities decreased their price objective on 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. BMO Capital Markets lowered Canfor from an “outperform” rating to a “market perform” rating in a research note on Friday, December 6th. Finally, CIBC boosted their target price on Canfor from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$21.33.

Canfor Price Performance

Shares of TSE:CFP opened at C$14.79 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 stock has a market cap of C$1.75 billion, a price-to-earnings ratio of -4.39 and a beta of 2.08. The company has a 50 day moving average of C$16.90 and a 200-day moving average of C$15.70. Canfor has a one year low of C$13.53 and a one year high of C$19.30.

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.