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

Key Points

• TD Securities has cut its price target for Canfor's stock from C$18.00 to C$17.00, while maintaining a "buy" rating, indicating a potential upside of 25.65% from the current price.
• CIBC and Royal Bank of Canada have both downgraded their ratings on Canfor, with target prices set at C$16.00, contributing to a more cautious outlook among analysts.
• Currently, Canfor has a consensus rating of "Hold," with three analysts rating it as buy and one as sell, reflecting mixed sentiment towards the stock's future performance.

Canfor (TSE:CFP - Get Free Report) had its price target cut by equities researchers at TD Securities from C$18.00 to C$17.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. TD Securities' price objective suggests a potential upside of 25.65% from the stock's current price.

Several other equities research analysts also recently commented on CFP. CIBC downgraded shares of Canfor from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from C$19.00 to C$16.00 in a research report on Tuesday, April 22nd. Royal Bank Of Canada lowered their price target on shares of Canfor from C$19.00 to C$16.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Raymond James Financial lowered shares of Canfor from a "strong-buy" rating to an "outperform" rating and reduced their price target for the stock from C$22.00 to C$19.00 in a research note on Tuesday, July 22nd. Finally, Cibc World Mkts downgraded shares of Canfor from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of C$17.00.

Canfor Price Performance

Shares of TSE CFP traded up C$0.04 during trading hours on Tuesday, hitting C$13.53. 65,892 shares of the stock were exchanged, compared to its average volume of 155,587. Canfor has a 1-year low of C$12.60 and a 1-year high of C$18.38. The company has a debt-to-equity ratio of 21.94, a quick ratio of 2.14 and a current ratio of 2.19. The company has a market cap of C$1.63 billion, a PE ratio of -2.25 and a beta of 2.08. The company's fifty day simple moving average is C$14.05 and its two-hundred day simple moving average is C$14.27.

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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