Acadian Timber Corp (TSE:ADN) Cut to Sector Perform at Scotiabank

Acadian Timber Corp (TSE:ADN) was downgraded by research analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a report issued on Friday, July 28th. They presently have a C$18.50 price target on the stock, down from their prior price target of C$19.25. Scotiabank’s price target would suggest a potential upside of 1.54% from the company’s previous close.

Acadian Timber Corp (TSE ADN) opened at 18.22 on Friday. Acadian Timber Corp has a 52-week low of $16.82 and a 52-week high of $19.60. The firm has a market capitalization of $304.84 million and a P/E ratio of 20.78. The company’s 50-day moving average is $18.72 and its 200-day moving average is $18.34.

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About Acadian Timber Corp

Acadian Timber Corp. is a Canada-based supplier of primary forest products in Eastern Canada and the Northeastern United States. The Company owns and manages approximately 761,000 acres of freehold timberlands in New Brunswick (New Brunswick Timberlands), approximately 299,000 acres of freehold timberlands in Maine (Maine Timberlands) and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands.

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