CIBC Has Lowered Expectations for Canfor (TSE:CFP) Stock Price

Canfor (TSE:CFP) had its target price decreased by research analysts at CIBC from C$21.00 to C$19.00 in a research report issued on Wednesday,BayStreet.CA reports. CIBC’s price objective points to a potential upside of 22.82% from the company’s current price.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets lowered Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. Raymond James raised shares of Canfor from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada dropped their target price on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating on the stock in a research report on Friday, December 20th. Finally, TD Securities reduced their price target on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$21.00.

Canfor Stock Performance

TSE:CFP opened at C$15.47 on Wednesday. The company has a market capitalization of C$1.83 billion, a PE ratio of -4.59 and a beta of 2.08. Canfor has a fifty-two week low of C$13.53 and a fifty-two week high of C$18.38. The company has a debt-to-equity ratio of 11.97, a quick ratio of 2.14 and a current ratio of 1.99. The company has a 50 day simple moving average of C$16.20 and a two-hundred day simple moving average of C$15.74.

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.