Western Forest Products (TSE:WEF) had its target price hoisted by research analysts at Scotiabank from C$2.90 to C$3.00 in a research report issued on Friday. The brokerage currently has an “outperform” rating on the stock. Scotiabank’s price objective would suggest a potential upside of 8.30% from the stock’s previous close.
Several other equities research analysts also recently commented on the company. Raymond James Financial upped their target price on Western Forest Products from C$3.25 to C$3.50 and gave the company an “outperform” rating in a report on Friday, November 3rd. CIBC raised Western Forest Products from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from C$3.00 to C$3.25 in a research note on Friday, January 12th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Western Forest Products presently has a consensus rating of “Buy” and an average target price of C$3.00.
Shares of Western Forest Products (TSE:WEF) opened at C$2.77 on Friday. Western Forest Products has a fifty-two week low of C$2.03 and a fifty-two week high of C$2.90. The company has a market capitalization of $1,090.00, a price-to-earnings ratio of 12.04 and a beta of 0.80.
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Western Forest Products Inc operates as an integrated softwood forest products company. The companys activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. It offers products of various tree species, such as western red cedar, hem-fir, douglas fir, yellow cedar, and sitka spruce.
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