Royal Bank of Canada Cuts Canfor (TSE:CFP) Price Target to C$16.00

Canfor (TSE:CFP - Get Free Report) had its price objective cut by stock analysts at Royal Bank of Canada from C$19.00 to C$16.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank of Canada's price target would indicate a potential upside of 22.89% from the stock's previous close.

Other equities research analysts have also issued research reports about the company. CIBC lowered Canfor from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from C$19.00 to C$16.00 in a research note on Tuesday, April 22nd. Raymond James cut their price target on Canfor from C$28.00 to C$24.00 in a research note on Thursday, January 30th. TD Securities lowered their price objective on shares of Canfor from C$19.00 to C$17.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Scotiabank downgraded shares of Canfor from a "hold" rating to a "strong sell" rating in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of C$18.67.

Canfor Price Performance

TSE:CFP traded up C$0.24 during trading hours on Tuesday, hitting C$13.02. The company's stock had a trading volume of 207,991 shares, compared to its average volume of 189,221. The company has a market capitalization of C$1.57 billion, a PE ratio of -2.17 and a beta of 2.08. Canfor has a 52-week low of C$12.60 and a 52-week high of C$18.38. The business's 50-day moving average is C$14.44 and its two-hundred day moving average is C$15.54. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19.

About Canfor

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.