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

Canfor (TSE:CFP) had its price objective boosted by CIBC from C$17.00 to C$19.00 in a report issued on Monday, BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. CIBC’s target price would indicate a potential upside of 24.02% from the company’s previous close.

Several other equities analysts have also commented on the stock. BMO Capital Markets decreased their price objective on shares of Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 23rd. Royal Bank of Canada lifted their price objective on shares of Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a report on Monday. TD Securities decreased their price target on shares of Canfor from C$20.00 to C$19.00 in a research report on Tuesday, July 23rd. Finally, Raymond James upped their price target on Canfor from C$20.00 to C$23.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Canfor has a consensus rating of “Buy” and a consensus price target of C$20.33.

Canfor Price Performance

Shares of TSE:CFP traded down C$0.20 during trading on Monday, reaching C$15.32. 100,850 shares of the company’s stock traded hands, compared to its average volume of 181,590. The firm has a market cap of C$1.82 billion, a PE ratio of -7.37 and a beta of 2.18. The company has a 50-day simple moving average of C$14.75 and a 200-day simple moving average of C$15.60. The company has a quick ratio of 2.14, a current ratio of 2.31 and a debt-to-equity ratio of 9.76. Canfor has a fifty-two week low of C$13.41 and a fifty-two week high of C$21.24.

Canfor (TSE:CFP) last released its quarterly earnings data on Thursday, July 25th. The company reported C($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.17) by C($1.25). The firm had revenue of C$1.38 billion for the quarter, compared to analyst estimates of C$1.42 billion. Canfor had a negative return on equity of 6.09% and a negative net margin of 4.58%. As a group, analysts predict that Canfor will post 0.4005401 earnings per share for the current year.

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.