Raymond James Financial Issues Pessimistic Forecast for Interfor (TSE:IFP) Stock Price

Key Points

• Raymond James Financial has reduced its target price for Interfor (TSE:IFP) from C$19.00 to C$15.00 while maintaining an "outperform" rating, indicating a potential upside of 53.69% from its current price.
• Other firms, including Scotiabank and the Royal Bank Of Canada, have also downgraded their price targets for Interfor, reflecting a broader pessimistic outlook on the stock.
• The stock is currently trading at C$9.76, with a market cap of C$641.79 million and a P/E ratio of -2.80, indicating negative earnings.

Interfor (TSE:IFP - Get Free Report) had its target price decreased by research analysts at Raymond James Financial from C$19.00 to C$15.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the stock. Raymond James Financial's target price points to a potential upside of 53.69% from the company's current price.

A number of other research firms have also weighed in on IFP. Scotiabank decreased their price target on Interfor from C$20.00 to C$18.00 and set a "sector perform" rating for the company in a research report on Monday, August 11th. Royal Bank Of Canada decreased their price target on Interfor from C$19.00 to C$17.00 and set an "outperform" rating for the company in a research report on Thursday, October 2nd. CIBC decreased their price target on Interfor from C$14.00 to C$12.00 and set a "neutral" rating for the company in a research report on Monday, September 29th. Finally, TD Securities decreased their price target on Interfor from C$15.00 to C$12.00 and set a "hold" rating for the company in a research report on Thursday, October 2nd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of C$14.80.

Interfor Price Performance

IFP stock traded down C$0.22 during trading hours on Tuesday, hitting C$9.76. 345,894 shares of the stock traded hands, compared to its average volume of 235,647. The stock has a 50-day simple moving average of C$12.28 and a 200 day simple moving average of C$13.05. Interfor has a one year low of C$9.74 and a one year high of C$21.44. The company has a market cap of C$641.79 million, a P/E ratio of -2.80 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.

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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