Western Forest Products Inc (WEF) Receives Outperform Rating from Scotiabank
Scotiabank reissued their outperform rating on shares of Western Forest Products Inc (TSE:WEF) in a research report released on Thursday morning. The brokerage currently has a C$2.50 price objective on the stock.
A number of other brokerages also recently weighed in on WEF. CIBC downgraded shares of Western Forest Products from an outperform rating to a sector perform rating in a report on Wednesday, October 12th. TD Securities reissued a buy rating and issued a C$2.50 price target on shares of Western Forest Products in a report on Monday, November 7th. RBC Capital Markets reduced their price objective on shares of Western Forest Products from C$2.75 to C$2.50 and set an outperform rating for the company in a report on Monday, November 7th. Finally, Royal Bank Of Canada reduced their price objective on shares of Western Forest Products from C$2.75 to C$2.50 and set an outperform rating for the company in a report on Monday, November 7th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Western Forest Products presently has a consensus rating of Buy and an average target price of C$2.47.
Shares of Western Forest Products (TSE:WEF) traded down 1.06% during midday trading on Thursday, hitting $1.87. 97,099 shares of the company were exchanged. Western Forest Products has a one year low of $1.77 and a one year high of $2.40. The stock’s 50-day moving average is $2.01 and its 200-day moving average is $2.11. The stock has a market cap of $739.49 million and a PE ratio of 11.00.
Western Forest Products Company Profile
Western Forest Products Inc (WFP) is a Canada-based softwood forest products company, operating in the coastal region of British Columbia. The Company’s primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber, wood chips and lumber remanufacturing. WFP’s lumber products are currently sold in over 25 countries worldwide.
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