Canfor (TSE:CFP – Get Free Report) had its price target increased by research analysts at Royal Bank of Canada from C$18.00 to C$19.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 24.02% from the stock’s current price.
Several other equities analysts also recently issued reports on the stock. TD Securities reduced their price target on shares of Canfor from C$20.00 to C$19.00 in a report on Tuesday, July 23rd. Raymond James increased their price objective on shares of Canfor from C$20.00 to C$23.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. CIBC cut their price objective on Canfor from C$21.00 to C$17.00 in a research report on Thursday, July 18th. Finally, BMO Capital Markets decreased their target price on shares of Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating for the company in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Canfor presently has a consensus rating of “Buy” and an average price target of C$20.33.
Read Our Latest Stock Report on Canfor
Canfor Stock Performance
Canfor (TSE:CFP – Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported C($1.42) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.17) by C($1.25). Canfor had a negative return on equity of 6.09% and a negative net margin of 4.58%. The business had revenue of C$1.38 billion for the quarter, compared to analyst estimates of C$1.42 billion. On average, equities research analysts predict that Canfor will post 0.4005401 earnings per share 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.
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