CIBC Lowers Canfor (TSE:CFP) Price Target to C$19.00

Canfor (TSE:CFP) had its price target decreased by CIBC from C$21.00 to C$19.00 in a research report report published on Wednesday morning,BayStreet.CA reports.

A number of other research firms also recently weighed in on CFP. Royal Bank of Canada cut their price target on Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a research note on Friday, December 20th. BMO Capital Markets lowered Canfor from an “outperform” rating to a “market perform” rating in a research note on Friday, December 6th. Raymond James upgraded Canfor from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from C$20.00 to C$28.00 in a report on Tuesday, October 22nd. Finally, TD Securities lowered their price target on Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of C$21.00.

Canfor Trading Up 1.9 %

Shares of TSE CFP opened at C$15.29 on Wednesday. Canfor has a fifty-two week low of C$13.53 and a fifty-two week high of C$18.41. The firm has a market capitalization of C$1.81 billion, a P/E ratio of -4.54 and a beta of 2.08. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14. The company’s 50 day simple moving average is C$16.22 and its 200 day simple moving average is C$15.73.

About Canfor

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.