Canfor (TSE:CFP – Get Free Report) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Tuesday, BayStreet.CA reports. The firm currently has a C$28.00 target price on the stock, up from their prior target price of C$20.00. Raymond James’ price target would indicate a potential upside of 63.84% from the stock’s previous close.
CFP has been the subject of a number of other reports. BMO Capital Markets decreased their price target on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating for the company in a research note on Tuesday, July 23rd. CIBC lifted their price target on Canfor from C$17.00 to C$19.00 and gave the company an “outperform” rating in a report on Monday, July 29th. TD Securities cut their price target on Canfor from C$20.00 to C$19.00 in a report on Tuesday, July 23rd. Scotiabank lowered their price objective on Canfor from C$20.00 to C$19.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their price target on Canfor from C$18.00 to C$19.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of C$20.67.
Check Out Our Latest Report on CFP
Canfor Price Performance
Canfor (TSE:CFP – Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The company reported C($1.42) EPS for the quarter, missing analysts’ consensus estimates of C($0.17) by C($1.25). The firm had revenue of C$1.38 billion for the quarter, compared to the consensus estimate of C$1.42 billion. Canfor had a negative net margin of 7.39% and a negative return on equity of 9.65%. As a group, equities analysts predict that Canfor will post 0.4005401 EPS for the current year.
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.
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