Canfor (TSE:CFP) Price Target Increased to C$19.00 by Analysts at CIBC

Canfor (TSE:CFP) had its price objective raised 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 suggests a potential upside of 24.02% from the stock’s previous close.

A number of other research firms also recently weighed in on CFP. BMO Capital Markets decreased their price target on shares of 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. Royal Bank of Canada upped their target price on shares of Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research note on Monday. Raymond James increased their price target on shares of Canfor from C$20.00 to C$23.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, TD Securities cut their price objective on Canfor from C$20.00 to C$19.00 in a research note on Tuesday, July 23rd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$20.33.

Canfor Stock Down 1.3 %

Shares of TSE CFP traded down C$0.20 during trading on Monday, reaching C$15.32. 100,850 shares of the stock were exchanged, compared to its average volume of 181,590. The business’s 50-day moving average price is C$14.75 and its 200 day moving average price is C$15.60. The company has a market capitalization of C$1.82 billion, a price-to-earnings ratio of -7.37 and a beta of 2.18. Canfor has a twelve month low of C$13.41 and a twelve month high of C$21.24. 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 (TSE:CFP) last announced its earnings results on Thursday, July 25th. The company reported C($1.42) earnings per share for the quarter, missing the consensus estimate of C($0.17) by C($1.25). Canfor had a negative net margin of 4.58% and a negative return on equity of 6.09%. The business had revenue of C$1.38 billion for the quarter, compared to analyst estimates of C$1.42 billion. As a group, equities analysts forecast that Canfor will post 0.4005401 EPS for the current fiscal 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.