Royal Bank Of Canada Lowers Interfor (TSE:IFP) Price Target to C$17.00

Key Points

• Royal Bank of Canada has lowered its price target for Interfor from C$19.00 to C$17.00, while maintaining an "outperform" rating on the stock.
• Other brokerages have also adjusted their price targets for Interfor, with CIBC setting it at C$12.00 and Raymond James reducing it to C$19.00.
• Interfor's stock traded down C$0.27 to C$9.87, with a current market capitalization of C$507.85 million.

Interfor (TSE:IFP - Get Free Report) had its price objective lowered by research analysts at Royal Bank Of Canada from C$19.00 to C$17.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 72.24% from the company's previous close.

A number of other brokerages have also issued reports on IFP. CIBC dropped their price target on shares of Interfor from C$14.00 to C$12.00 and set a "neutral" rating on the stock in a research note on Monday. Raymond James Financial cut Interfor from a "strong-buy" rating to a "moderate buy" rating and dropped their target price for the stock from C$22.00 to C$19.00 in a research report on Tuesday, July 22nd. Finally, Scotiabank dropped their price objective on Interfor from C$20.00 to C$18.00 and set a "sector perform" rating on the stock in a report on Monday, August 11th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$15.60.

Interfor Stock Performance

IFP traded down C$0.27 during trading on Thursday, hitting C$9.87. The stock had a trading volume of 575,512 shares, compared to its average volume of 228,469. The company has a debt-to-equity ratio of 61.24, a quick ratio of 1.15 and a current ratio of 1.69. The firm has a market capitalization of C$507.85 million, a P/E ratio of -2.83 and a beta of 2.65. The company's 50-day moving average price is C$12.47 and its 200 day moving average price is C$13.19. Interfor has a twelve month low of C$9.84 and a twelve month high of C$21.44.

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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