Canfor (TSE:CFP) Upgraded to Outperform by Royal Bank of Canada

Royal Bank of Canada upgraded shares of Canfor (TSE:CFP) from a sector perform rating to an outperform rating in a report released on Tuesday morning, BayStreet.CA reports. They currently have C$17.00 price objective on the stock, up from their prior price objective of C$16.00.

A number of other research analysts have also issued reports on CFP. Raymond James set a C$18.00 target price on shares of Canfor and gave the company an outperform rating in a report on Wednesday, December 18th. TD Securities upgraded shares of Canfor from a tender rating to a buy rating and set a C$16.00 target price on the stock in a report on Wednesday, December 18th. CIBC upgraded shares of Canfor from a neutral rating to an outperform rating and reduced their target price for the company from C$16.00 to C$15.00 in a report on Monday. Finally, Scotiabank reduced their target price on shares of Canfor from C$16.00 to C$15.50 in a report on Tuesday, December 17th. Five analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and a consensus target price of C$16.92.

Canfor stock opened at C$13.21 on Tuesday. Canfor has a 52 week low of C$8.55 and a 52 week high of C$18.92. The company has a quick ratio of 0.53, a current ratio of 1.43 and a debt-to-equity ratio of 57.23. The firm’s 50-day simple moving average is C$13.78 and its 200 day simple moving average is C$13.86. The firm has a market capitalization of $1.62 billion and a PE ratio of -5.90.

Canfor (TSE:CFP) last released its quarterly earnings data on Wednesday, October 23rd. The company reported C($0.35) EPS for the quarter, topping the consensus estimate of C($0.74) by C$0.39. The business had revenue of C$1.09 billion during the quarter. On average, research analysts expect that Canfor will post 0.69 EPS for the current fiscal year.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in Canada and internationally. It operates through two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, pulp and paper products, remanufactured lumber products, engineered wood products, and wood pellets, as well as produces green energy.

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Analyst Recommendations for Canfor (TSE:CFP)

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