Canfor (TSE:CFP) Price Target Lowered to C$19.00 at Royal Bank of Canada

Canfor (TSE:CFP) had its target price reduced by Royal Bank of Canada from C$21.00 to C$19.00 in a research note released on Friday,BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the stock.

A number of other equities analysts have also commented on the company. BMO Capital Markets lowered Canfor from an “outperform” rating to a “market perform” rating in a research note on Friday, December 6th. CIBC upped their price target on shares of Canfor from C$20.00 to C$21.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. TD Securities lowered their price objective on shares of Canfor from C$22.00 to C$21.00 and set a “buy” rating for the company in a research report on Tuesday, October 29th. Finally, Raymond James upgraded shares of Canfor from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from C$20.00 to C$28.00 in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Canfor currently has a consensus rating of “Moderate Buy” and an average price target of C$21.33.

Canfor Stock Performance

TSE CFP opened at C$14.79 on Friday. The firm has a market cap of C$1.75 billion, a price-to-earnings ratio of -4.39 and a beta of 2.08. The company has a current ratio of 1.99, a quick ratio of 2.14 and a debt-to-equity ratio of 11.97. Canfor has a 1-year low of C$13.53 and a 1-year high of C$19.30. The company has a 50 day moving average of C$16.90 and a 200-day moving average of C$15.69.

About Canfor

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.