Canfor (CFP) Upgraded to “Sector Perform” at Royal Bank of Canada

Canfor (TSE:CFP) was upgraded by stock analysts at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a research note issued to investors on Friday. The brokerage currently has a C$26.00 price target on the stock, up from their previous price target of C$20.00. Royal Bank of Canada’s price target suggests a potential downside of 4.38% from the company’s current price.

CFP has been the subject of several other reports. CIBC boosted their target price on Canfor from C$21.00 to C$25.00 in a research report on Thursday, October 19th. Scotiabank boosted their target price on Canfor from C$25.25 to C$26.00 and gave the stock a “sector perform” rating in a research report on Friday, November 3rd. Finally, TD Securities boosted their target price on Canfor from C$29.00 to C$30.00 in a research report on Tuesday, October 24th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Canfor currently has a consensus rating of “Buy” and a consensus target price of C$27.40.

Canfor (CFP) traded up C$1.43 during trading on Friday, hitting C$27.19. The stock had a trading volume of 849,548 shares, compared to its average volume of 278,548. The firm has a market cap of $3,520.00, a price-to-earnings ratio of 14.31 and a beta of 1.90. Canfor has a 52 week low of C$13.54 and a 52 week high of C$27.56.

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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 lumber, engineered wood products, wood chips, wood pellets, and logs, as well as generates green energy.

Analyst Recommendations for Canfor (TSE:CFP)

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