TD Issues Positive Forecast for Canfor (TSE:CFP) Stock Price

Key Points

• TD raised Canfor’s price target from C$18.00 to C$20.00 and maintained a “buy” rating, implying 31.75% potential upside from the current price.
• Canfor shares rose 5.9% to C$15.18, while analysts overall maintain a “Moderate Buy” consensus with an average C$17.00 price target.
• The company reported a quarterly loss of C$0.16 per share on C$1.53 billion in revenue, alongside negative return on equity and net margin figures.

Canfor (TSE:CFP - Get Free Report) had its price target increased by equities research analysts at TD from C$18.00 to C$20.00 in a research note issued on Friday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock. TD's price target suggests a potential upside of 31.75% from the company's current price.

CFP has been the subject of a number of other reports. Royal Bank Of Canada lowered shares of Canfor from a "moderate buy" rating to a "hold" rating and set a C$15.00 price target for the company. in a report on Thursday, April 16th. Raymond James Financial downgraded shares of Canfor from a "strong-buy" rating to an "outperform" rating and set a C$17.00 price objective for the company. in a research note on Friday, April 24th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Canfor currently has a consensus rating of "Moderate Buy" and a consensus price target of C$17.00.

Canfor Trading Up 5.9%

Shares of CFP traded up C$0.84 during trading hours on Friday, hitting C$15.18. The company had a trading volume of 292,794 shares, compared to its average volume of 197,094. The stock's 50 day moving average price is C$13.73 and its 200 day moving average price is C$13.60. The company has a quick ratio of 2.14, a current ratio of 1.32 and a debt-to-equity ratio of 43.49. Canfor has a 52-week low of C$10.86 and a 52-week high of C$16.08. The firm has a market cap of C$1.78 billion, a P/E ratio of -2.13 and a beta of 1.37.

Canfor (TSE:CFP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported C($0.16) EPS for the quarter. The company had revenue of C$1.53 billion during the quarter. Canfor had a negative return on equity of 30.75% and a negative net margin of 15.87%. On average, research analysts predict that Canfor will post 0.4005401 EPS for the current year.

About Canfor

Canfor Corp is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor Corp produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. Canfor Corp has a 77% stake in Vida AB, Sweden's largest privately owned sawmill company and also owns, approximately, a 54.8% interest in Canfor Pulp.

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