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

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

A number of other brokerages also recently commented on CFP. BMO Capital Markets dropped their price objective on shares of Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, July 23rd. Raymond James raised Canfor from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from C$20.00 to C$28.00 in a report on Tuesday, October 22nd. TD Securities dropped their price objective on Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Tuesday. Royal Bank of Canada upped their price target on Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Scotiabank cut their price objective on shares of Canfor from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 30th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of C$21.33.

Canfor Stock Performance

Shares of Canfor stock opened at C$16.61 on Tuesday. The business has a 50-day simple moving average of C$15.90 and a 200-day simple moving average of C$15.20. The company has a market cap of C$1.97 billion, a PE ratio of -4.94 and a beta of 2.08. Canfor has a one year low of C$13.53 and a one year high of C$19.30. The company has a debt-to-equity ratio of 11.97, a quick ratio of 2.14 and a current ratio of 1.99.

Canfor Company Profile

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.