Canfor (TSE:CFP) Stock Rating Upgraded by Royal Bank of Canada

Royal Bank of Canada upgraded shares of Canfor (TSE:CFP) from a sector perform rating to an outperform rating in a report published on Tuesday, April 17th. They currently have C$39.00 price objective on the stock, up from their prior price objective of C$33.00.

Other research analysts have also issued reports about the company. Raymond James upped their price target on Canfor from C$17.00 to C$17.50 and gave the stock an outperform rating in a report on Friday, February 23rd. Scotiabank upped their price target on Canfor from C$26.50 to C$27.00 and gave the stock a sector perform rating in a report on Friday, February 23rd. CIBC boosted their price objective on Canfor from C$32.00 to C$33.00 in a research report on Monday, March 19th. TD Securities boosted their price objective on Canfor from C$32.00 to C$36.00 and gave the company a buy rating in a research report on Tuesday, February 27th. Finally, BMO Capital Markets restated a market perform rating and set a C$26.00 price objective on shares of Canfor in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Canfor has a consensus rating of Buy and a consensus target price of C$33.50.

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CFP traded up C$0.55 on Tuesday, hitting C$30.24. The company had a trading volume of 249,430 shares, compared to its average volume of 381,412. Canfor has a 1-year low of C$18.46 and a 1-year high of C$32.00.

Canfor (TSE:CFP) last posted its earnings results on Thursday, February 22nd. The company reported C$0.89 earnings per share for the quarter. Canfor had a return on equity of 16.57% and a net margin of 6.23%. The firm had revenue of C$1.18 billion during the quarter.

In other news, Director Patrick Elliott sold 1,010 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of C$31.00, for a total transaction of C$31,310.00.

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About Canfor

Canfor Corporation operates as an integrated forest products company in Canada, Asia, the United States, Europe, and internationally. It operates through Lumber, and Pulp and Paper segments. The company manufactures and sells remanufactured and finger-jointed lumber, engineered wood products, wood chips, wood pellets, and logs, as well as produces green energy.

Analyst Recommendations for Canfor (TSE:CFP)

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