Raymond James Cuts Canfor (TSE:CFP) Price Target to C$22.00

Canfor (TSE:CFP) had its target price cut by Raymond James from C$24.00 to C$22.00 in a research note released on Wednesday morning,BayStreet.CA reports. They currently have a strong-buy rating on the stock.

Several other equities analysts also recently commented on CFP. CIBC downgraded shares of Canfor from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from C$19.00 to C$16.00 in a report on Tuesday, April 22nd. Scotiabank downgraded shares of Canfor from a “hold” rating to a “strong sell” rating in a research report on Monday, February 3rd. TD Securities decreased their target price on Canfor from C$19.00 to C$17.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Cibc World Mkts cut Canfor from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada decreased their price objective on Canfor from C$19.00 to C$16.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of C$18.33.

Canfor Stock Performance

Shares of TSE CFP opened at C$13.58 on Wednesday. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94. The company has a market capitalization of C$1.63 billion, a P/E ratio of -2.26 and a beta of 2.08. Canfor has a 12 month low of C$12.60 and a 12 month high of C$18.38. The stock has a 50 day moving average of C$14.27 and a 200-day moving average of C$15.41.

About Canfor

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.