Canfor (TSE:CFP) Lowered to Neutral Rating by CIBC

CIBC downgraded shares of Canfor (TSE:CFP) from an outperform rating to a neutral rating in a research report report published on Tuesday,BayStreet.CA reports. The brokerage currently has C$16.00 price objective on the stock, down from their prior price objective of C$19.00.

CFP has been the topic of a number of other reports. TD Securities dropped their price target on Canfor from C$19.00 to C$17.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Scotiabank lowered Canfor from a “hold” rating to a “strong sell” rating in a research report on Monday, February 3rd. Finally, Raymond James cut their target price on Canfor from C$28.00 to C$24.00 in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of C$18.67.

Canfor Price Performance

Shares of TSE CFP opened at C$12.81 on Tuesday. The firm has a market capitalization of C$1.54 billion, a P/E ratio of -2.13 and a beta of 2.08. The firm’s 50-day moving average price is C$14.58 and its 200-day moving average price is C$15.61. The company has a current ratio of 2.19, a quick ratio of 2.14 and a debt-to-equity ratio of 21.94. Canfor has a 1-year low of C$12.60 and a 1-year high of C$18.38.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.