Canfor (CFP) Given Consensus Recommendation of “Buy” by Analysts

Shares of Canfor (TSE:CFP) have been assigned a consensus rating of “Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is C$34.83.

Several analysts have recently weighed in on CFP shares. Raymond James boosted their target price on Canfor from C$30.00 to C$33.00 in a report on Tuesday, January 30th. CIBC boosted their target price on Canfor from C$27.00 to C$30.00 in a report on Friday, January 12th. TD Securities boosted their target price on Canfor from C$32.00 to C$36.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. BMO Capital Markets reissued a “market perform” rating and issued a C$26.00 target price on shares of Canfor in a report on Wednesday, February 28th. Finally, Royal Bank of Canada raised Canfor from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from C$33.00 to C$39.00 in a report on Tuesday, April 17th.

Canfor stock opened at C$31.39 on Thursday. Canfor has a fifty-two week low of C$18.46 and a fifty-two week high of C$32.00.

Canfor (TSE:CFP) last posted its earnings results on Tuesday, April 24th. The company reported C$1.13 earnings per share for the quarter. Canfor had a return on equity of 16.57% and a net margin of 6.23%. The business had revenue of C$1.23 billion during the quarter.

In related news, Director John Russell Baird acquired 5,000 shares of Canfor stock in a transaction on Monday, April 30th. The stock was purchased at an average cost of C$29.82 per share, with a total value of C$149,100.00. Also, Director Patrick Elliott sold 1,010 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of C$31.00, for a total value of C$31,310.00.

About Canfor

Canfor Corporation operates as an integrated forest products company in Canada, Asia, the United States, Europe, and internationally. It operates through Lumber, and Pulp and Paper segments. The company manufactures and sells remanufactured and finger-jointed lumber, engineered wood products, wood chips, wood pellets, and logs, as well as produces green energy.

Analyst Recommendations for Canfor (TSE:CFP)

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