TD Securities Cuts Canfor (TSE:CFP) Price Target to C$21.00

Canfor (TSE:CFP) had its price target reduced by TD Securities from C$22.00 to C$21.00 in a report released on Tuesday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets decreased their target price on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating for the company in a report on Tuesday, July 23rd. Raymond James upgraded shares of Canfor from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from C$20.00 to C$28.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada upped their price target on shares of Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Scotiabank reduced their price objective on Canfor from C$20.00 to C$19.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 30th. Finally, CIBC upped their target price on Canfor from C$17.00 to C$19.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$21.33.

Canfor Price Performance

Shares of CFP stock opened at C$17.07 on Tuesday. Canfor has a twelve month low of C$13.53 and a twelve month high of C$19.30. The company has a current ratio of 1.99, a quick ratio of 2.14 and a debt-to-equity ratio of 11.97. The stock has a fifty day simple moving average of C$16.06 and a two-hundred day simple moving average of C$15.24. The stock has a market capitalization of C$2.02 billion, a price-to-earnings ratio of -5.07 and a beta of 2.08.

Canfor Company Profile

Canfor Corporation operates as an integrated forest products company in the United States, Asia, Canada, Europe, and internationally. It operates in two segments, Lumber, and Pulp and Paper. The company manufactures and sells softwood lumber, remanufactured lumber products, engineered wood, and other lumber-related products, as well as wood chips and pellets; and generates green energy.