Canfor (TSE:CFP) Given New C$37.00 Price Target at Scotiabank
Canfor (TSE:CFP) had its price objective increased by Scotiabank from C$33.00 to C$37.00 in a research report sent to investors on Wednesday morning, BayStreet.CA reports.
Several other research firms also recently weighed in on CFP. CIBC lifted their target price on shares of Canfor from C$34.00 to C$35.00 in a research report on Monday, March 1st. Raymond James boosted their target price on shares of Canfor from C$37.50 to C$40.00 and gave the company a strong-buy rating in a research note on Thursday, February 25th. Finally, TD Securities raised their target price on Canfor from C$31.00 to C$32.00 and gave the stock a buy rating in a research report on Friday, February 26th.
Shares of CFP stock opened at C$29.18 on Wednesday. The stock has a 50-day simple moving average of C$26.07 and a 200 day simple moving average of C$21.66. Canfor has a fifty-two week low of C$7.25 and a fifty-two week high of C$29.77. The stock has a market capitalization of C$3.65 billion and a P/E ratio of 6.71. The company has a quick ratio of 1.00, a current ratio of 2.11 and a debt-to-equity ratio of 29.38.
Canfor Corporation operates as an integrated forest products company in Canada, Asia, the United States, Europe, and internationally. It operates through Lumber, and Pulp and Paper segments. The company manufactures and sells finger-jointed lumber, higher-grade MSR lumber, premium one-inch boards, engineered wood products, wood chips, wood pellets, logs, strength-rated trusses, beams, and tongue-and-groove timber, as well as generates green energy.
Recommended Story: Why do companies issue convertible shares?
Receive News & Ratings for Canfor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canfor and related companies with MarketBeat.com's FREE daily email newsletter.