Scotiabank Increases Western Forest Products Inc (WEF) Price Target to C$2.90
Western Forest Products Inc (TSE:WEF) had its target price lifted by Scotiabank from C$2.85 to C$2.90 in a research report issued on Friday. The firm currently has an “outperform” rating on the stock. Scotiabank’s price target indicates a potential upside of 10.69% from the stock’s previous close.
A number of other analysts have also recently issued reports on WEF. Raymond James Financial, Inc. increased their price objective on shares of Western Forest Products from C$2.75 to C$3.10 and gave the stock a “strong-buy” rating in a research note on Thursday, August 3rd. CIBC cut shares of Western Forest Products from an “outperform” rating to a “neutral” rating in a research note on Monday, September 25th. Finally, TD Securities upped their target price on shares of Western Forest Products from C$2.75 to C$3.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Western Forest Products currently has an average rating of “Buy” and a consensus price target of C$2.88.
Shares of Western Forest Products (WEF) traded down C$2.62 during midday trading on Friday, hitting C$2.62. 1,982,693 shares of the stock were exchanged.
About Western Forest Products
Western Forest Products Inc is a softwood forest products company, operating in the coastal region of British Columbia. The Company’s primary business includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and lumber remanufacturing. The Company’s log and lumber products are sold throughout the world.
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