Canfor (TSE:CFP) Given New C$18.00 Price Target at TD

Key Points

• TD raised its price target on Canfor to C$18.00 from C$16.00 and kept a buy rating, implying about 22.9% upside from the previous close.
• Other analysts were mixed: Raymond James lowered its rating from strong-buy to outperform, while RBC cut Canfor to hold. Overall, the stock still carries a Moderate Buy consensus with an average target of C$16.60.
• Canfor shares rose on the day to C$14.65, while the company recently reported a quarterly loss of C($0.62) per share on revenue of C$1.36 billion. Analysts currently expect full-year EPS of about 0.40.

Canfor (TSE:CFP - Get Free Report) had its price objective boosted by TD from C$16.00 to C$18.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD's price objective points to a potential upside of 22.87% from the stock's previous close.

A number of other analysts have also recently weighed in on the stock. Raymond James Financial cut shares of Canfor from a "strong-buy" rating to an "outperform" rating and set a C$17.00 price target for the company. in a research note on Friday, April 24th. Royal Bank Of Canada lowered shares of Canfor from a "moderate buy" rating to a "hold" rating and set a C$15.00 price objective on the stock. in a research note on Thursday, April 16th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$16.60.

Canfor Stock Performance

TSE:CFP traded up C$1.18 during mid-day trading on Tuesday, reaching C$14.65. 316,283 shares of the stock were exchanged, compared to its average volume of 201,065. The stock has a market capitalization of C$1.72 billion, a P/E ratio of -2.05 and a beta of 1.37. Canfor has a 1 year low of C$10.86 and a 1 year high of C$16.08. The company has a 50 day simple moving average of C$13.25 and a 200-day simple moving average of C$13.40. The company has a quick ratio of 2.14, a current ratio of 1.32 and a debt-to-equity ratio of 43.49.

Canfor (TSE:CFP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C($0.62) earnings per share for the quarter. The firm had revenue of C$1.36 billion during the quarter. Canfor had a negative net margin of 15.87% and a negative return on equity of 30.75%. Analysts anticipate that Canfor will post 0.4005401 earnings per share for the current fiscal year.

Canfor Company Profile

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden's largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.

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