Canfor (TSE:CFP) Given New C$19.00 Price Target at CIBC

Canfor (TSE:CFP) had its price objective dropped by research analysts at CIBC from C$21.00 to C$19.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. CIBC’s target price would suggest a potential upside of 22.82% from the company’s current price.

A number of other research firms have also commented on CFP. Raymond James raised Canfor from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd. BMO Capital Markets downgraded shares of Canfor from an “outperform” rating to a “market perform” rating in a report on Friday, December 6th. Royal Bank of Canada dropped their price target on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Finally, TD Securities reduced their price objective on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$21.00.

Canfor Stock Performance

Shares of CFP opened at C$15.47 on Wednesday. Canfor has a 52 week low of C$13.53 and a 52 week high of C$18.38. The company has a debt-to-equity ratio of 11.97, a quick ratio of 2.14 and a current ratio of 1.99. The stock has a 50 day moving average price of C$16.20 and a two-hundred day moving average price of C$15.74. The firm has a market capitalization of C$1.83 billion, a P/E ratio of -4.59 and a beta of 2.08.

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.