Canfor (OTCMKTS:CFPZF) Stock Crosses Above Fifty Day Moving Average – Here’s Why

by · The Markets Daily

Canfor Co. (OTCMKTS:CFPZF – Get Free Report)’s stock price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $10.76 and traded as high as $11.47. Canfor shares last traded at $11.1630, with a volume of 21,531 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CFPZF shares. Scotiabank reissued a “sector perform” rating on shares of Canfor in a report on Tuesday, August 4th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Canfor in a research report on Friday, July 31st. TD Securities reissued a “buy” rating on shares of Canfor in a report on Friday, July 31st. Raymond James Financial upgraded Canfor from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, September 15th. Finally, BMO Capital Markets restated a “market perform” rating on shares of Canfor in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Read Our Latest Stock Analysis on Canfor

Canfor Price Performance

The company’s 50-day moving average is $10.78 and its two-hundred day moving average is $9.98.

About Canfor

(Get Free Report)

Canfor Corporation is a Canadian forest products company headquartered in Vancouver, British Columbia. Founded in 1938, the company has grown into a major producer of lumber and other wood products, serving construction, manufacturing, retail and industrial customers.

Canfor’s products include softwood lumber made from species such as spruce, pine and fir, as well as Southern Yellow Pine lumber produced through its operations in the U.S. South. The company also has interests in pulp and paper manufacturing through Canfor Pulp, which produces northern bleached softwood kraft pulp and related products.

Canfor operates manufacturing facilities and timber-resource interests primarily in British Columbia, Alberta and the southern United States.

Further Reading