Canfor (TSE:CFP) Earns Strong-Buy Rating from Raymond James

Canfor (TSE:CFP)‘s stock had its “strong-buy” rating restated by research analysts at Raymond James in a note issued to investors on Wednesday, Price reports. They currently have a C$53.00 price objective on the stock. Raymond James’ price objective suggests a potential upside of 96.95% from the stock’s current price.

A number of other research analysts have also commented on CFP. Royal Bank of Canada increased their price objective on Canfor to C$45.00 and gave the company an “outperform” rating in a report on Wednesday. BMO Capital Markets increased their price objective on Canfor from C$31.00 to C$36.00 and gave the company an “outperform” rating in a report on Monday, May 3rd. TD Securities increased their target price on Canfor from C$36.00 to C$41.00 and gave the company a “buy” rating in a research note on Friday, April 23rd. Scotiabank increased their target price on Canfor from C$40.00 to C$42.00 in a research note on Wednesday, May 19th. Finally, CIBC restated an “outperform” rating and set a C$41.00 target price on shares of Canfor in a research note on Thursday, April 29th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of C$43.00.

Shares of CFP stock opened at C$26.91 on Wednesday. The company has a debt-to-equity ratio of 18.12, a quick ratio of 1.00 and a current ratio of 2.25. The firm has a market cap of C$3.37 billion and a price-to-earnings ratio of 3.23. The business has a 50-day moving average price of C$30.38. Canfor has a fifty-two week low of C$10.16 and a fifty-two week high of C$35.53.

Canfor (TSE:CFP) last issued its quarterly earnings data on Thursday, April 29th. The company reported C$3.47 EPS for the quarter, beating the Zacks’ consensus estimate of C$3.40 by C$0.07. The company had revenue of C$1.94 billion for the quarter. As a group, sell-side analysts forecast that Canfor will post 3.7599998 earnings per share for the current fiscal year.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in Canada, Asia, the United States, Europe, and internationally. It operates through Lumber, and Pulp and Paper segments. The company manufactures and sells finger-jointed lumber, higher-grade MSR lumber, premium one-inch boards, engineered wood products, wood chips, wood pellets, logs, strength-rated trusses, beams, and tongue-and-groove timber, as well as generates green energy.

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Analyst Recommendations for Canfor (TSE:CFP)

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