Canfor Co. (TSE:CFP) Receives Average Recommendation of “Buy” from Brokerages

Shares of Canfor Co. (TSE:CFP) have earned an average recommendation of “Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is C$21.33.

A number of brokerages have recently weighed in on CFP. CIBC upped their target price on Canfor from C$20.00 to C$21.00 and gave the company an “outperform” rating in a report on Tuesday. Royal Bank of Canada boosted their target price on Canfor from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. BMO Capital Markets cut their price objective on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating for the company in a research report on Tuesday, July 23rd. TD Securities lowered their price objective on Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Scotiabank lowered their price objective on Canfor from C$20.00 to C$19.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 30th.

Canfor Trading Up 2.8 %

Shares of TSE:CFP opened at C$17.07 on Friday. Canfor has a twelve month low of C$13.53 and a twelve month high of C$19.30. The firm has a market cap of C$2.02 billion, a P/E ratio of -5.07 and a beta of 2.08. The company has a 50 day moving average of C$16.06 and a 200-day moving average of C$15.24. The company has a current ratio of 1.99, a quick ratio of 2.14 and a debt-to-equity ratio of 11.97.

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.