TD Securities Issues Pessimistic Forecast for Interfor (TSE:IFP) Stock Price

Key Points

• TD Securities has lowered its price target for Interfor (TSE:IFP) from C$15.00 to C$12.00, maintaining a "hold" rating on the stock.
• Other analysts, including Raymond James and Scotiabank, have also reduced their target prices, indicating a generally pessimistic outlook for Interfor's stock performance.
• Interfor's stock is currently trading at C$9.87, down 2.7%, significantly below its 12-month high of C$21.44.

Interfor (TSE:IFP - Get Free Report) had its price objective reduced by equities research analysts at TD Securities from C$15.00 to C$12.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD Securities' price objective would indicate a potential upside of 21.58% from the company's previous close.

Other analysts have also recently issued research reports about the stock. Raymond James Financial cut shares of Interfor from a "strong-buy" rating to a "moderate buy" rating and cut their price target for the company from C$22.00 to C$19.00 in a report on Tuesday, July 22nd. Scotiabank lowered their target price on shares of Interfor from C$20.00 to C$18.00 and set a "sector perform" rating on the stock in a research note on Monday, August 11th. CIBC decreased 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 report on Monday. Finally, Royal Bank Of Canada decreased their price target on shares of Interfor from C$19.00 to C$17.00 and set an "outperform" rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Interfor presently has an average rating of "Hold" and an average target price of C$15.60.

Interfor Trading Down 2.7%

IFP traded down C$0.27 on Thursday, hitting C$9.87. 575,512 shares of the company were exchanged, 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. Interfor has a 12 month low of C$9.84 and a 12 month high of C$21.44. The stock has a market capitalization of C$507.85 million, a PE ratio of -2.83 and a beta of 2.65. The firm has a fifty day simple moving average of C$12.47 and a two-hundred day simple moving average of C$13.19.

About Interfor

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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