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Brokerages Set Canfor Target Price at $33.42

August 24, 2015

By: My Informs

Shares of Canfo have earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, AnalystRatings.NET reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target…

Shares of Canfor (TSE:CFP) have earned a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, AnalystRatings.NET reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is C$32.58.

CFP has been the subject of several research reports. TD Securities lowered their target price on shares of Canfor from C$37.00 to C$34.00 and set a “buy” rating for the company in a report on Thursday, April 30th. Dundee Securities reduced their price target on shares of Canfor from C$36.00 to C$31.00 and set a “buy” rating on the stock in a research note on Friday. CIBC cut their target price on shares of Canfor from C$36.00 to C$33.50 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Scotiabank lowered their price target on shares of Canfor from C$34.50 to C$33.00 and set an “outperform” rating on the stock in a report on Thursday, April 30th. Finally, Raymond James upgraded shares of Canfor from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from C$34.00 to C$35.00 in a research note on Friday, July 10th.

Canfor (TSE:CFP) traded down 4.29% during trading on Thursday, hitting $20.32. 276,515 shares of the stock were exchanged. The stock has a market cap of $2.72 billion and a P/E ratio of 23.68. The stock has a 50 day moving average of $24.73 and a 200-day moving average of $25.89. Canfor has a 52 week low of $20.19 and a 52 week high of $31.93.

Canfor (TSE:CFP) last announced its earnings results on Tuesday, July 21st. The company reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.18. Equities analysts expect that Canfor…

By: My Informs

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