CIBC Lowers Interfor (TSE:IFP) Price Target to C$10.00

Key Points

• CIBC has lowered its price target for Interfor (TSE:IFP) from C$12.00 to C$10.00, maintaining a "neutral" rating on the stock.
• Other brokerages have also reduced their targets, with TD Securities setting a new target of C$12.00 and Royal Bank of Canada lowering theirs to C$14.00, while the average consensus price target across analysts stands at C$13.80.
• Interfor's stock has experienced a 2.0% decline to C$8.04 following the news, with a 52-week low of C$7.91 and a high of C$21.44.

Interfor (TSE:IFP - Get Free Report) had its target price lowered by research analysts at CIBC from C$12.00 to C$10.00 in a report issued on Wednesday,BayStreet.CA reports. The firm currently has a "neutral" rating on the stock. CIBC's price target would indicate a potential upside of 24.38% from the company's current price.

Several other brokerages have also recently issued reports on IFP. TD Securities reduced their price target on shares of Interfor from C$15.00 to C$12.00 and set a "hold" rating on the stock in a research report on Thursday, October 2nd. Royal Bank Of Canada reduced their price target on shares of Interfor from C$17.00 to C$14.00 and set an "outperform" rating on the stock in a research report on Monday. Raymond James Financial reduced their price target on shares of Interfor from C$19.00 to C$15.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 7th. Finally, Scotiabank reduced their price target on shares of Interfor from C$20.00 to C$18.00 and set a "sector perform" rating on the stock in a research report on Monday, August 11th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$13.80.

Interfor Trading Down 2.0%

Shares of IFP stock traded down C$0.16 during mid-day trading on Wednesday, reaching C$8.04. The stock had a trading volume of 301,238 shares, compared to its average volume of 249,503. The stock's 50-day moving average price is C$11.47 and its two-hundred day moving average price is C$12.58. Interfor has a 52-week low of C$7.91 and a 52-week high of C$21.44. The firm has a market capitalization of C$528.69 million, a PE ratio of -2.30 and a beta of 2.29. The company has a current ratio of 1.69, a quick ratio of 1.15 and a debt-to-equity ratio of 61.24.

Interfor Company Profile

Interfor Corp produces and sells lumber, timber, and other wood products. The company operates sawmills to convert timber into lumber, logs, wood chips, and other wood products for sale. The firm also harvests timber for its sawmills on forest land owned by the Canadian government. Interfor pays the Canadian government stumpage fees based on the number of trees it harvests.

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