Canfor (TSE:CFP – Get Free Report) had its price target dropped by investment analysts at CIBC from C$22.00 to C$21.00 in a research note issued on Thursday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. CIBC’s target price suggests a potential upside of 39.72% from the company’s previous close.
Other equities analysts also recently issued reports about the company. Raymond James downgraded Canfor from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from C$25.00 to C$23.00 in a research report on Tuesday, February 6th. Scotiabank set a C$22.00 target price on shares of Canfor and gave the stock a “sector perform” rating in a report on Monday, January 22nd. TD Securities lowered their price target on shares of Canfor from C$22.00 to C$20.00 in a report on Thursday. BMO Capital Markets dropped their target price on shares of Canfor from C$24.00 to C$22.00 in a report on Wednesday, April 17th. Finally, Royal Bank of Canada decreased their price target on Canfor from C$22.00 to C$19.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of C$21.17.
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Canfor Stock Performance
Canfor (TSE:CFP – Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported C($1.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.94) by C($0.12). The business had revenue of C$1.28 billion during the quarter. Canfor had a negative return on equity of 7.71% and a negative net margin of 6.01%. As a group, equities analysts anticipate that Canfor will post 0.4005401 earnings per share for the current year.
About Canfor
Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.
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