CIBC Issues Pessimistic Forecast for Canfor (TSE:CFP) Stock Price

by · The Markets Daily

Canfor (TSE:CFP – Get Free Report) had its price target reduced by investment analysts at CIBC from C$21.00 to C$19.00 in a research note issued on Wednesday,BayStreet.CA reports. CIBC’s price objective indicates a potential upside of 25.33% from the company’s previous close.

A number of other equities analysts also recently issued reports on CFP. Royal Bank of Canada cut their price target on Canfor from C$21.00 to C$19.00 and set an “outperform” rating for the company in a research note on Friday, December 20th. BMO Capital Markets lowered Canfor from an “outperform” rating to a “market perform” rating in a research note on Friday, December 6th. TD Securities lowered their price target on Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research report 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 company from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.00.

Read Our Latest Stock Report on Canfor

Canfor Stock Up 1.0 %

TSE:CFP traded up C$0.15 during trading hours on Wednesday, reaching C$15.16. 86,663 shares of the stock were exchanged, compared to its average volume of 167,767. The firm has a 50 day moving average of C$16.25 and a 200 day moving average of C$15.72. Canfor has a twelve month low of C$13.53 and a twelve month high of C$18.41. 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$1.80 billion, a PE ratio of -4.50 and a beta of 2.08.

About Canfor

(Get Free Report)

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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