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Canfor (TSE:CFP) was upgraded by stock analysts at RBC Capital from a “sector perform” rating to an “outperform” rating in a report issued on Wednesday.

Canfor (TSE:CFP) traded up 3.74% on Wednesday, hitting $23.88. 433,322 shares of the company’s stock traded hands. Canfor has a one year low of $17.90 and a one year high of $30.02. The stock has a 50-day moving average of $23.65 and a 200-day moving average of $26.16. The company has a market cap of $3.333 billion and a price-to-earnings ratio of 15.25.

Canfor (TSE:CFP) last announced its earnings results on Friday, May 2nd. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.45 by $0.11. On average, analysts predict that Canfor will post $1.87 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on CFP. Analysts at Salman Partners reiterated a “buy” rating on shares of Canfor in a research note on Friday, May 2nd. They now have a C$30.00 price target on the stock, down previously from C$31.00. Analysts at Dundee Securities initiated coverage on shares of Canfor in a research note on Wednesday, April 23rd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of C$28.38.

Canfor Corporation (TSE:CFP) is an integrated forest products company.

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