TD Securities Forecasts Strong Price Appreciation for Canfor (TSE:CFP) Stock

Canfor (TSE:CFP) had its price target hoisted by analysts at TD Securities from C$17.00 to C$18.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 29.03% from the stock’s current price.

A number of other research firms have also issued reports on CFP. Scotiabank lowered shares of Canfor from a “hold” rating to a “strong sell” rating in a research note on Monday, February 3rd. Cibc World Mkts lowered shares of Canfor from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. CIBC lowered shares of Canfor from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from C$19.00 to C$16.00 in a research note on Tuesday, April 22nd. Raymond James decreased their price objective on shares of Canfor from C$24.00 to C$22.00 and set a “strong-buy” rating for the company in a report on Wednesday, April 30th. Finally, Royal Bank of Canada decreased their price objective on shares of Canfor from C$19.00 to C$16.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$18.50.

Canfor Trading Up 1.8%

Canfor stock opened at C$13.95 on Monday. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 21.94. The firm has a 50-day moving average price of C$14.10 and a two-hundred day moving average price of C$15.23. The firm has a market capitalization of C$1.68 billion, a price-to-earnings ratio of -2.32 and a beta of 2.08. Canfor has a 52-week low of C$12.60 and a 52-week high of C$18.38.

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.