Royal Bank of Canada Lowers Canfor (TSE:CFP) Price Target to C$19.00

Canfor (TSE:CFP) had its target price reduced by stock analysts at Royal Bank of Canada from C$21.00 to C$19.00 in a report issued on Friday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 27.77% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets lowered shares of Canfor from an “outperform” rating to a “market perform” rating in a report on Friday, December 6th. TD Securities dropped their target price on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Tuesday, October 29th. Raymond James upgraded shares of Canfor from an “outperform” rating to a “strong-buy” rating and increased their target price for the company from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd. Finally, CIBC increased their price target on shares of Canfor from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.33.

Canfor Stock Performance

Shares of Canfor stock traded up C$0.08 during trading on Friday, hitting C$14.87. 118,513 shares of the company’s stock traded hands, compared to its average volume of 200,412. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14. Canfor has a 1 year low of C$13.53 and a 1 year high of C$19.30. The stock has a market capitalization of C$1.76 billion, a P/E ratio of -4.41 and a beta of 2.08. The business has a 50-day simple moving average of C$16.95 and a 200-day simple moving average of C$15.70.

Canfor Company Profile

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.