Interfor (TSE:IFP) Given New C$12.00 Price Target at CIBC

Key Points

• CIBC has reduced the price target for Interfor from C$14.00 to C$12.00, maintaining a "neutral" rating, indicating a potential upside of 17.53% from the previous close.
• Other analysts have also adjusted their ratings; Scotiabank lowered its target from C$20.00 to C$18.00, while Raymond James reduced its target from C$22.00 to C$19.00.
• Interfor's stock is currently trading at C$10.21, down 3.5%, with a twelve-month trading range between C$10.10 and C$21.44.

Interfor (TSE:IFP - Get Free Report) had its price target dropped by stock analysts at CIBC from C$14.00 to C$12.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a "neutral" rating on the stock. CIBC's price objective points to a potential upside of 17.53% from the company's previous close.

A number of other research analysts also recently issued reports on the company. Scotiabank reduced their price objective on Interfor from C$20.00 to C$18.00 and set a "sector perform" rating for the company in a research note on Monday, August 11th. Raymond James Financial cut Interfor from a "strong-buy" rating to a "moderate buy" rating and dropped their price objective for the stock from C$22.00 to C$19.00 in a report on Tuesday, July 22nd. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of C$17.20.

Interfor Trading Down 3.5%

IFP traded down C$0.37 during trading on Monday, hitting C$10.21. The company's stock had a trading volume of 408,808 shares, compared to its average volume of 223,524. Interfor has a twelve month low of C$10.10 and a twelve month high of C$21.44. The company has a quick ratio of 1.15, a current ratio of 1.69 and a debt-to-equity ratio of 61.24. The stock's fifty day moving average price is C$12.64 and its 200-day moving average price is C$13.27. The firm has a market capitalization of C$525.35 million, a P/E ratio of -2.93 and a beta of 2.65.

About Interfor

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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