CIBC Cuts Canfor (TSE:CFP) Price Target to C$19.00

Canfor (TSE:CFP - Free Report) had its price target trimmed by CIBC from C$21.00 to C$19.00 in a report issued on Wednesday,BayStreet.CA reports.

Other equities research analysts have also recently issued reports about the stock. Raymond James raised shares of Canfor from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada decreased their price target on shares of Canfor from C$21.00 to C$19.00 and set an "outperform" rating for the company in a research report on Friday, December 20th. BMO Capital Markets downgraded shares of Canfor from an "outperform" rating to a "market perform" rating in a research report on Friday, December 6th. Finally, TD Securities decreased their target price 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 equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Canfor presently has an average rating of "Moderate Buy" and an average price target of C$21.00.

Canfor Trading Up 1.9 %

Shares of TSE:CFP traded up C$0.28 during trading hours on Wednesday, hitting C$15.29. 141,613 shares of the company's stock traded hands, compared to its average volume of 173,312. The firm has a market capitalization of C$1.81 billion, a P/E ratio of -4.54 and a beta of 2.08. Canfor has a 1 year low of C$13.53 and a 1 year high of C$18.41. The company has a debt-to-equity ratio of 11.97, a current ratio of 1.99 and a quick ratio of 2.14. The business has a fifty day moving average price of C$16.22 and a 200-day moving average price of C$15.73.

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.