Western Forest Products (TSE:WEF) had its price objective dropped by research analysts at Raymond James from C$1.60 to C$1.00 in a research note issued on Monday, October 15th. Raymond James’ target price would suggest a potential downside of 47.37% from the stock’s previous close.
Several other brokerages have also issued reports on WEF. CIBC cut their price target on Western Forest Products from C$3.25 to C$3.00 in a report on Wednesday, August 8th. TD Securities dropped their target price on Western Forest Products from C$3.50 to C$3.25 and set a “buy” rating on the stock in a report on Tuesday, August 7th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Western Forest Products has a consensus rating of “Buy” and an average target price of C$2.50.
Shares of WEF stock remained flat at $C$1.90 on Monday. The stock had a trading volume of 447,600 shares, compared to its average volume of 784,515. Western Forest Products has a 12 month low of C$1.74 and a 12 month high of C$2.95.
Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers lumber and logs from various tree species, such as western red cedar, hem-fir, Douglas fir, yellow cedar, and Sitka spruce.
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