Western Forest Products (TSE:WEF) was upgraded by equities research analysts at CIBC from a “neutral” rating to an “outperform” rating in a research note issued to investors on Friday. The firm currently has a C$3.25 price objective on the stock, up from their prior price objective of C$3.00. CIBC’s price target would suggest a potential upside of 24.05% from the company’s previous close.
Other equities analysts have also issued reports about the company. Raymond James Financial increased their price target on Western Forest Products from C$3.25 to C$3.50 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Scotiabank increased their price target on Western Forest Products from C$2.85 to C$2.90 and gave the company an “outperform” rating in a research note on Friday, November 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Western Forest Products has a consensus rating of “Buy” and a consensus target price of C$2.98.
Shares of Western Forest Products (TSE WEF) traded up C$0.03 during trading on Friday, reaching C$2.62. The company had a trading volume of 636,899 shares, compared to its average volume of 795,540. Western Forest Products has a 52 week low of C$1.79 and a 52 week high of C$2.84. The company has a market capitalization of $1,030.00, a price-to-earnings ratio of 11.39 and a beta of 0.65.
Western Forest Products Inc operates as an integrated softwood forest products company. The companys activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. It offers products of various tree species, such as western red cedar, hem-fir, douglas fir, yellow cedar, and sitka spruce.
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