Scotiabank Increases Western Forest Products (WEF) Price Target to C$3.00

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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About Western Forest Products

Western Forest Products Inc operates as an integrated softwood forest products company. The company’s 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.

Analyst Recommendations for Western Forest Products (TSE:WEF)

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