Royal Bank Of Canada Issues Pessimistic Forecast for Canfor (TSE:CFP) Stock Price

Key Points

• Royal Bank of Canada has reduced its target price for Canfor (TSE: CFP) from C$17.00 to C$16.00, while maintaining an "outperform" rating, indicating a potential upside of 31.47%.
• Other brokerages, including Raymond James and TD Securities, have also lowered their target prices for Canfor, contributing to a mixed consensus rating of "Hold" with an average target price of C$16.50.
• Canfor's stock is currently trading down 0.8%, with a market capitalization of C$1.42 billion and significant volatility, evidenced by a beta of 2.01.

Canfor (TSE:CFP - Get Free Report) had its target price dropped by equities researchers at Royal Bank Of Canada from C$17.00 to C$16.00 in a research note issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's target price would suggest a potential upside of 31.47% from the stock's previous close.

A number of other brokerages have also weighed in on CFP. Raymond James Financial lowered their target price on Canfor from C$19.00 to C$17.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 15th. TD Securities lowered their target price on Canfor from C$18.00 to C$17.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of C$16.50.

Canfor Trading Down 0.8%

CFP traded down C$0.10 during trading on Monday, hitting C$12.17. The company's stock had a trading volume of 48,965 shares, compared to its average volume of 164,399. Canfor has a twelve month low of C$12.07 and a twelve month high of C$18.38. The company has a quick ratio of 2.14, a current ratio of 2.19 and a debt-to-equity ratio of 21.94. The stock's fifty day moving average price is C$12.95 and its 200-day moving average price is C$13.44. The firm has a market capitalization of C$1.42 billion, a P/E ratio of -2.23 and a beta of 2.01.

Canfor Company Profile

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.

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