Canfor Co. (CFP) Receives C$34.83 Average Target Price from Analysts

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Shares of Canfor Co. (TSE:CFP) have been assigned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is C$34.83.

Several research analysts recently commented on CFP shares. TD Securities raised their price objective on shares of Canfor from C$38.00 to C$39.00 and gave the stock a “buy” rating in a report on Thursday, April 26th. Scotiabank raised their price objective on shares of Canfor from C$31.50 to C$32.00 and gave the stock a “sector perform” rating in a report on Thursday, April 26th. Raymond James raised their price objective on shares of Canfor from C$36.00 to C$40.00 in a report on Tuesday, April 10th. Royal Bank of Canada raised shares of Canfor from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from C$33.00 to C$39.00 in a report on Tuesday, April 17th. Finally, CIBC raised their price objective on shares of Canfor from C$32.00 to C$33.00 in a report on Monday, March 19th.

In other Canfor news, Director John Russell Baird acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The stock was bought at an average cost of C$29.82 per share, with a total value of C$149,100.00.

Shares of CFP stock traded up C$0.78 during trading hours on Friday, hitting C$31.64. 191,000 shares of the company were exchanged, compared to its average volume of 347,573. Canfor has a 52-week low of C$18.47 and a 52-week high of C$34.04.

Canfor (TSE:CFP) last issued its quarterly earnings results on Tuesday, April 24th. The company reported C$1.13 earnings per share (EPS) for the quarter. The company had revenue of C$1.23 billion during the quarter. Canfor had a net margin of 6.23% and a return on equity of 16.57%.

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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