CIBC Issues Pessimistic Forecast for Interfor (TSE:IFP) Stock Price

Interfor (TSE:IFP) had its price target lowered by CIBC from C$12.00 to C$10.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “neutral” rating on the stock. CIBC’s price target points to a potential upside of 23.92% from the company’s previous close.

A number of other brokerages have also weighed in on IFP. Royal Bank Of Canada reduced their price objective on shares of Interfor from C$17.00 to C$14.00 and set an “outperform” rating on the stock in a report on Monday. Raymond James Financial reduced their price objective on shares of Interfor from C$19.00 to C$15.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th. TD Securities reduced their price objective on shares of Interfor from C$15.00 to C$12.00 and set a “hold” rating on the stock in a report on Thursday, October 2nd. Finally, Scotiabank reduced their price objective on shares of Interfor from C$20.00 to C$18.00 and set a “sector perform” rating on the stock in a report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$13.80.

Interfor Stock Performance

Shares of IFP stock opened at C$8.07 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.69 and a debt-to-equity ratio of 61.24. Interfor has a 52 week low of C$7.81 and a 52 week high of C$21.44. The stock has a market capitalization of C$530.66 million, a PE ratio of -2.31 and a beta of 2.29. The firm has a 50 day moving average of C$11.26 and a two-hundred day moving average of C$12.51.

Interfor Company Profile

Interfor Corp produces and sells lumber, timber, and other wood products. The company operates sawmills to convert timber into lumber, logs, wood chips, and other wood products for sale. The firm also harvests timber for its sawmills on forest land owned by the Canadian government. Interfor pays the Canadian government stumpage fees based on the number of trees it harvests.