Royal Bank of Canada Issues Pessimistic Forecast for Canfor (TSE:CFP) Stock Price

Canfor (TSE:CFP) had its price objective dropped by investment analysts at Royal Bank of Canada from C$21.00 to C$19.00 in a research note issued on Friday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 28.47% from the company’s current price.

Other analysts also recently issued reports about the stock. Raymond James raised shares of Canfor from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from C$20.00 to C$28.00 in a report on Tuesday, October 22nd. BMO Capital Markets downgraded Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. CIBC boosted their price objective on Canfor from C$20.00 to C$21.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Finally, TD Securities reduced their price target on 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 research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canfor currently has a consensus rating of “Moderate Buy” and a consensus price target of C$21.33.

Canfor Price Performance

TSE CFP opened at C$14.79 on Friday. Canfor has a 1 year low of C$13.53 and a 1 year high of C$19.30. The company has a market cap of C$1.75 billion, a price-to-earnings ratio of -4.39 and a beta of 2.08. 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 stock’s fifty day moving average price is C$16.90 and its 200 day moving average price is C$15.70.

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.