Western Forest Products (WEF) Upgraded to Outperform by Royal Bank of Canada

Western Forest Products (TSE:WEF) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note issued to investors on Monday. The firm presently has a C$3.00 target price on the stock. Royal Bank of Canada’s target price points to a potential upside of 15.38% from the stock’s previous close.

A number of other analysts have also commented on the stock. CIBC raised shares of Western Forest Products from a “neutral” rating to an “outperform” rating and upped their price objective for the company from C$3.00 to C$3.25 in a research note on Friday, January 12th. TD Securities upped their target price on Western Forest Products from C$3.25 to C$3.50 and gave the company a “buy” rating in a report on Tuesday, February 20th. Raymond James Financial upgraded Western Forest Products from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, January 30th. Finally, Scotiabank upped their target price on Western Forest Products from C$2.90 to C$3.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Western Forest Products has an average rating of “Buy” and an average price target of C$3.25.

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TSE WEF traded up C$0.01 on Monday, reaching C$2.60. The company’s stock had a trading volume of 511,706 shares, compared to its average volume of 642,849. Western Forest Products has a twelve month low of C$2.04 and a twelve month high of C$2.90.

Western Forest Products (TSE:WEF) last issued its quarterly earnings results on Thursday, February 15th. The company reported C$0.05 earnings per share for the quarter. Western Forest Products had a net margin of 6.71% and a return on equity of 13.63%. The company had revenue of C$283.10 million during the quarter.

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Western Forest Products Company Profile

Western Forest Products Inc is a softwood forest products company, operating in the coastal region of British Columbia. The Company’s primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and lumber remanufacturing. The Company’s log and lumber products are sold throughout the world.

Analyst Recommendations for Western Forest Products (TSE:WEF)

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