Canfor (TSE:CFP) Price Target Raised to C$18.00 at TD Securities

Canfor (TSE:CFP) had its price objective hoisted by equities researchers at TD Securities from C$17.00 to C$18.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ target price would indicate a potential upside of 27.75% from the company’s previous close.

CFP has been the topic of several other research reports. Scotiabank lowered shares of Canfor from a “hold” rating to a “strong sell” rating in a research note on Monday, February 3rd. Cibc World Mkts lowered shares of Canfor from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Royal Bank of Canada lowered their price target on shares of Canfor from C$19.00 to C$16.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Raymond James lowered their price target on shares of Canfor from C$24.00 to C$22.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, April 30th. Finally, CIBC downgraded shares of Canfor from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from C$19.00 to C$16.00 in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$18.50.

Canfor Price Performance

Shares of Canfor stock traded up C$0.54 during mid-day trading on Monday, reaching C$14.09. 133,840 shares of the stock were exchanged, compared to its average volume of 182,053. The company has a market cap of C$1.69 billion, a price-to-earnings ratio of -2.34 and a beta of 2.08. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94. The firm has a 50-day simple moving average of C$14.13 and a 200 day simple moving average of C$15.27. Canfor has a fifty-two week low of C$12.60 and a fifty-two week high of C$18.38.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.