Canfor (CFP) Reaches New 52-Week Low Following Analyst Downgrade

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Canfor Co. (TSE:CFP) hit a new 52-week low during trading on Monday after CIBC lowered their price target on the stock from C$25.00 to C$23.00. The stock traded as low as C$18.64 and last traded at C$18.80, with a volume of 394111 shares changing hands. The stock had previously closed at C$19.04.

Several other equities research analysts have also recently commented on the company. BMO Capital Markets lowered their price target on Canfor from C$27.00 to C$22.00 in a research note on Friday, October 19th. TD Securities upped their target price on Canfor from C$41.00 to C$42.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of C$33.00.

About Canfor (TSE:CFP)

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.

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