TD Securities Issues Positive Forecast for Canfor (TSE:CFP) Stock Price

Canfor (TSE:CFP - Get Free Report) had its target price lifted by equities research analysts at TD Securities from C$17.00 to C$18.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the stock. TD Securities' price objective would indicate a potential upside of 31.58% from the stock's current price.

Several other equities research analysts also recently issued reports on the stock. Cibc World Mkts downgraded shares of Canfor from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Scotiabank cut Canfor from a "hold" rating to a "strong sell" rating in a research report on Monday, February 3rd. Raymond James reduced their target price on Canfor from C$24.00 to C$22.00 and set a "strong-buy" rating for the company in a research note on Wednesday, April 30th. Royal Bank of Canada dropped their price target on Canfor from C$19.00 to C$16.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, CIBC cut shares of Canfor from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from C$19.00 to C$16.00 in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of C$18.50.

Canfor Stock Performance

TSE CFP traded up C$0.10 on Monday, hitting C$13.68. 11,076 shares of the stock were exchanged, compared to its average volume of 180,493. The company has a market capitalization of C$1.64 billion, a PE ratio of -2.28 and a beta of 2.08. 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 business's fifty day moving average is C$14.07 and its 200 day moving average is C$15.22. Canfor has a 52 week low of C$12.60 and a 52 week high of C$18.38.

About Canfor

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.