Canfor (TSE:CFP) Receives Strong-Buy Rating from Raymond James
Canfor (TSE:CFP)‘s stock had its “strong-buy” rating reiterated by investment analysts at Raymond James in a research note issued to investors on Wednesday, BayStreet.CA reports. They currently have a C$18.00 price target on the stock. Raymond James’ price objective indicates a potential upside of 78.57% from the company’s current price.
Other equities analysts have also issued reports about the company. TD Securities reduced their price target on Canfor from C$22.00 to C$20.00 in a research report on Wednesday, April 17th. CIBC reduced their price target on Canfor from C$15.00 to C$11.00 in a research report on Friday, June 7th. Royal Bank of Canada reduced their price target on Canfor from C$21.00 to C$20.00 in a research report on Friday, April 5th. Finally, BMO Capital Markets set a C$20.00 price target on Canfor in a research report on Thursday, February 28th.
Shares of TSE CFP traded up C$0.08 during midday trading on Wednesday, hitting C$10.08. The stock had a trading volume of 294,024 shares, compared to its average volume of 433,005. The firm has a market capitalization of $1.11 billion and a P/E ratio of 8.36. Canfor has a 1-year low of C$8.55 and a 1-year high of C$33.74. The company has a debt-to-equity ratio of 48.46, a current ratio of 1.53 and a quick ratio of 0.51.
Canfor Corporation operates as an integrated forest products company in Canada and internationally. It operates through two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, pulp and paper products, remanufactured lumber products, engineered wood products, and wood pellets, as well as produces green energy.
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