Canfor (TSE:CFP – Get Free Report) had its price target lowered by equities researchers at Royal Bank of Canada from C$22.00 to C$19.00 in a note issued to investors on Friday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 31.94% from the company’s current price.
Several other research firms have also weighed in on CFP. Raymond James lowered shares of Canfor from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from C$25.00 to C$23.00 in a research note on Tuesday, February 6th. TD Securities lowered their price target on Canfor from C$25.00 to C$22.00 and set a “buy” rating for the company in a report on Thursday, March 7th. CIBC dropped their target price on Canfor from C$23.00 to C$22.00 in a research report on Thursday, April 11th. Scotiabank set a C$22.00 price objective on shares of Canfor and gave the company a “sector perform” rating in a report on Monday, January 22nd. Finally, BMO Capital Markets decreased their price objective on shares of Canfor from C$24.00 to C$22.00 in a report on Wednesday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of C$21.67.
Read Our Latest Stock Analysis on Canfor
Canfor Trading Up 0.6 %
Canfor (TSE:CFP – Get Free Report) last issued its earnings results on Tuesday, March 5th. The company reported C($1.06) EPS for the quarter, missing the consensus estimate of C($0.94) by C($0.12). Canfor had a negative net margin of 6.01% and a negative return on equity of 7.71%. The business had revenue of C$1.28 billion for the quarter. As a group, sell-side analysts forecast that Canfor will post 0.4005401 EPS for the current year.
About Canfor
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.
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