CIBC Raises Canfor Co. (CFP) Price Target to C$27.00

Canfor Co. (TSE:CFP) had its price target raised by CIBC from C$25.00 to C$27.00 in a report issued on Thursday.

A number of other research firms have also recently weighed in on CFP. Scotiabank increased their price objective on Canfor from C$24.25 to C$25.25 and gave the stock a sector perform rating in a research report on Tuesday, October 24th. Royal Bank Of Canada increased their price objective on Canfor from C$17.00 to C$18.00 and gave the stock an underperform rating in a research report on Friday, July 28th. TD Securities increased their price objective on Canfor from C$29.00 to C$30.00 in a research report on Tuesday, October 24th. Raymond James Financial, Inc. increased their price objective on Canfor from C$24.00 to C$25.00 and gave the stock a strong-buy rating in a research report on Thursday, July 27th. Finally, BMO Capital Markets cut Canfor from an outperform rating to a market perform rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of C$25.05.

Canfor (CFP) opened at 25.20 on Thursday. The firm has a 50-day moving average price of $23.87 and a 200-day moving average price of $20.91. Canfor has a one year low of $13.54 and a one year high of $25.95. The firm has a market capitalization of $3.35 billion and a P/E ratio of 14.17.

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In other Canfor news, Director William W. Stinson purchased 3,000 shares of Canfor stock in a transaction dated Thursday, August 3rd. The stock was acquired at an average cost of C$21.34 per share, with a total value of C$64,020.00. Also, insider James A. Pattison purchased 225,000 shares of Canfor stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of C$21.20 per share, with a total value of C$4,770,000.00.

Canfor Company Profile

Canfor Corporation is an integrated forest products company. The Company produces softwood lumber, pulp and paper products, remanufactured lumber products, engineered wood products, wood pellets and energy. Its segments include lumber, and pulp and paper. Its lumber segment includes logging operations, and manufacturing and sale of various grades, widths and lengths of lumber, engineered wood products, wood chips and wood pellets.

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