Canfor (CFP) Stock Rating Upgraded by Royal Bank of Canada

Canfor (TSE:CFP) was upgraded by equities researchers at Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a report released on Friday. The firm presently has a C$26.00 price objective on the stock, up from their prior price objective of C$20.00. Royal Bank of Canada’s price objective suggests a potential downside of 4.38% from the company’s current price.

Other equities analysts also recently issued reports about the company. TD Securities increased their target price on Canfor from C$29.00 to C$30.00 in a research report on Tuesday, October 24th. Scotiabank increased their target price on Canfor from C$25.25 to C$26.00 and gave the stock a “sector perform” rating in a research report on Friday, November 3rd. Finally, CIBC increased their target price on Canfor from C$25.00 to C$27.00 in a research report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of C$27.40.

Canfor (TSE CFP) opened at C$27.19 on Friday. Canfor has a 12-month low of C$13.54 and a 12-month high of C$27.56. The firm has a market capitalization of $3,520.00, a PE ratio of 14.31 and a beta of 1.90.

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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 lumber, engineered wood products, wood chips, wood pellets, and logs, as well as generates green energy.

Analyst Recommendations for Canfor (TSE:CFP)

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