Canfor (TSE:CFP) Given New C$17.00 Price Target at Raymond James Financial

Key Points

• Raymond James Financial has lowered Canfor's price target from C$19.00 to C$17.00, indicating a potential upside of 35.46% from the stock's previous close.
• TD Securities has also adjusted their price target to C$17.00, maintaining a "buy" rating, while the overall consensus rating for the stock is "Hold" with a target price of C$16.50.
• Canfor's stock has seen a 52-week low of C$12.09 and a high of C$18.38, currently trading at C$12.55.

Canfor (TSE:CFP - Get Free Report) had its price objective cut by research analysts at Raymond James Financial from C$19.00 to C$17.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Raymond James Financial's target price points to a potential upside of 35.46% from the stock's previous close.

Separately, TD Securities cut their target price on Canfor from C$18.00 to C$17.00 and set a "buy" rating on the stock in a report on Tuesday, August 5th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of C$16.50.

Canfor Price Performance

CFP stock traded up C$0.11 during midday trading on Wednesday, reaching C$12.55. 70,501 shares of the stock were exchanged, compared to its average volume of 164,587. The stock has a market capitalization of C$1.47 billion, a PE ratio of -2.30 and a beta of 2.01. Canfor has a 52 week low of C$12.09 and a 52 week high of C$18.38. The company has a debt-to-equity ratio of 21.94, a current ratio of 2.19 and a quick ratio of 2.14. The company has a fifty day moving average price of C$12.98 and a 200 day moving average price of C$13.51.

Canfor Company Profile

Canfor Corp is a softwood lumber company that also owns around half of Canfor Pulp. It is active throughout North America, with lumber mills in British Columbia, Alberta, and the Southeastern United States. It has two reportable segments: Lumber and Pulp and Paper.

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