Raymond James Issues Pessimistic Forecast for Canfor (TSE:CFP) Stock Price

Canfor (TSE:CFP) had its target price dropped by equities research analysts at Raymond James from C$28.00 to C$24.00 in a report issued on Thursday,BayStreet.CA reports. Raymond James’ price target points to a potential upside of 59.05% from the stock’s current price.

A number of other analysts have also recently weighed in on CFP. Royal Bank of Canada reduced their target price on shares of Canfor from C$21.00 to C$19.00 and set an “outperform” rating for the company in a report on Friday, December 20th. CIBC reduced their price objective on Canfor from C$21.00 to C$19.00 in a research note on Wednesday, January 15th. TD Securities cut their target price on Canfor from C$22.00 to C$21.00 and set a “buy” rating on the stock in a research report on Tuesday, October 29th. Finally, BMO Capital Markets lowered Canfor from an “outperform” rating to a “market perform” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$20.33.

Canfor Price Performance

Shares of TSE CFP opened at C$15.09 on Thursday. Canfor has a twelve month low of C$13.53 and a twelve month high of C$18.38. The company has a current ratio of 1.99, a quick ratio of 2.14 and a debt-to-equity ratio of 11.97. The firm has a 50-day moving average of C$15.81 and a two-hundred day moving average of C$15.82. The company has a market capitalization of C$1.79 billion, a price-to-earnings ratio of -4.48 and a beta of 2.08.

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.