West Fraser Timber Co. Ltd. (WFT) Cut to “Hold” at TD Securities
West Fraser Timber Co. Ltd. (TSE:WFT) was downgraded by equities researchers at TD Securities from a “buy” rating to a “hold” rating in a report issued on Friday. They currently have a C$80.00 price target on the stock, up from their previous price target of C$78.00. TD Securities’ price objective indicates a potential upside of 6.47% from the company’s previous close.
A number of other research analysts have also commented on WFT. BMO Capital Markets set a C$72.00 price objective on shares of West Fraser Timber Co. and gave the company an “outperform” rating in a research report on Tuesday, August 8th. Raymond James Financial, Inc. upped their price objective on shares of West Fraser Timber Co. from C$72.00 to C$76.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. CIBC upped their price objective on shares of West Fraser Timber Co. from C$62.00 to C$66.00 in a research report on Tuesday, July 25th. Finally, Scotiabank upped their price objective on shares of West Fraser Timber Co. from C$64.00 to C$67.00 and gave the company an “outperform” rating in a research report on Friday, July 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. West Fraser Timber Co. presently has a consensus rating of “Hold” and an average price target of C$69.25.
In related news, Director Gillian Winckler acquired 1,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was acquired at an average price of C$64.22 per share, with a total value of C$64,220.00.
West Fraser Timber Co Ltd. is a diversified wood products company, which produces lumber (spruce-pine-fir (SPF) and southern yellow pine (SYP)), panels (plywood, medium-density fiberboard (MDF) and laminated veneer lumber (LVL)), pulp (northern bleached softwood kraft (NBSK) and bleached chemi-thermomechanical pulp (BCTMP)), newsprint, wood chips and energy.
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