Raymond James upgraded shares of Canfor (TSE:CFP – Free Report) from an outperform rating to a strong-buy rating in a research note published on Tuesday morning, Marketbeat reports. Raymond James currently has C$28.00 target price on the stock, up from their prior target price of C$20.00. Raymond James also issued estimates for Canfor’s FY2024 earnings at ($3.57) EPS, FY2025 earnings at ($0.59) EPS and FY2026 earnings at $1.68 EPS.
Other research analysts have also recently issued research reports about the stock. CIBC upped their price target on shares of Canfor from C$17.00 to C$19.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their price target on Canfor from C$18.00 to C$19.00 and gave the company an “outperform” rating in a research note 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 report on Tuesday, July 30th. BMO Capital Markets dropped their target price on Canfor from C$22.00 to C$20.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, July 23rd. Finally, TD Securities reduced their price target on Canfor from C$20.00 to C$19.00 in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Canfor currently has an average rating of “Buy” and a consensus price target of C$20.67.
Read Our Latest Report on Canfor
Canfor Trading Up 3.3 %
Canfor (TSE:CFP – Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported C($1.42) earnings per share for the quarter, missing the consensus estimate of C($0.17) by C($1.25). Canfor had a negative return on equity of 9.65% and a negative net margin of 7.39%. The business had revenue of C$1.38 billion for the quarter, compared to the consensus estimate of C$1.42 billion. Research analysts forecast that Canfor will post 0.4005401 EPS for the current year.
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.
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