West Fraser Timber (WFT) Upgraded by CIBC to “Outperform”

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CIBC upgraded shares of West Fraser Timber (TSE:WFT) from a neutral rating to an outperform rating in a report released on Monday morning.

WFT has been the topic of several other reports. Raymond James set a C$100.00 target price on shares of West Fraser Timber and gave the stock a strong-buy rating in a research report on Tuesday, October 23rd. TD Securities raised shares of West Fraser Timber from a hold rating to a buy rating and lifted their target price for the stock from C$99.00 to C$102.00 in a research report on Monday, July 23rd. Finally, BMO Capital Markets dropped their target price on shares of West Fraser Timber from C$82.00 to C$68.00 in a research report on Friday, October 19th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. West Fraser Timber presently has an average rating of Buy and a consensus target price of C$90.33.

Shares of West Fraser Timber stock traded up C$0.25 during trading on Monday, hitting C$71.38. The stock had a trading volume of 43,268 shares, compared to its average volume of 464,019. West Fraser Timber has a 1 year low of C$60.44 and a 1 year high of C$97.99.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 9th. Investors of record on Tuesday, October 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 24th. This is an increase from West Fraser Timber’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.12%.

In related news, insider Christopher Virostek acquired 600 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were purchased at an average cost of C$78.97 per share, with a total value of C$47,382.00. Also, insider Raymond William Ferris acquired 2,500 shares of the stock in a transaction that occurred on Thursday, October 25th. The shares were bought at an average cost of C$68.58 per share, for a total transaction of C$171,450.00.

West Fraser Timber Company Profile

West Fraser Timber Co Ltd. produces and sells lumber, panels, and pulp and paper in western Canada and the southern United States. The company offers spruce/pine/fir and southern yellow pine lumber, as well as newsprint, wood chips, and lignin. It also provides treated wood, medium density fiberboard panels, laminated veneer lumber panels, and plywood; northern bleached softwood Kraft pulp used to produce various paper products, including printing and writing papers, specialty grades, and various tissue products; and bleached chemical thermo-mechanical pulp that is used to produce coated board grades, printing and writing paper, and paper towel/napkin grades, as well as specialty papers and tissue grades.

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Analyst Recommendations for West Fraser Timber (TSE:WFT)

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